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For the trading week ended November 15, 2024 my proprietary Canadian Cannabis Company Index (MCCCI) decreased by 5.9% compared to the prior week when it decreased by 9.5 %. The index consists of 14 stocks, many of which are among the most widely held holdings of the 3 ETFs (MJ, CNBS, and THCX) that I consider to be a reliable barometer of the Canadian cannabis sector. MCCCI's differentiated business model is both weighted and market capitalization-based because I believe that this approach best represents the current landscape of the Canadian cannabis sector. Now let us look at this week’s good, bad, and ugly stocks, shall we?

The Good

There were no stocks that increased by more than 10%, which is my metric for inclusion in this category.

The Bad

There was 1 stock that decreased by more than 10% (but less than 20%) which is my metric for inclusion in this category:

ACB -12.3%. Aurora Cannabis Inc. has decreased for 7 consecutive trading sessions.

The Ugly

There was 1 stock that decreased by 20% or more, which is my metric for inclusion in this category: CBWTF -21.8%.  On 11/8/24  Auxly Cannabis Group Inc. reported lackluster Q3 results of operation.

Valuation Metric Review

There was a 4.8% decrease in the “Big 4” (all of which decreased for the 3rd consecutive week) compared to the prior week when there was a 9.5% decrease. The stock-price based metric decreased by 7.7% compared to the prior week when it decreased by 11.0%.

Recap

There was a 22.4% decrease in the relative strength index compared to the prior week when there was no change.1 of the 14 MCCCI stocks increased, as froth hamstrings the sector, The DEFCON 1 alert remains in effect, as metrics worsen. Let us see how this volatile sector has performed at the same time next week, shall we?

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The Canadian Cannabis Report- Monday, Nov 11
The Canadian Cannabis Report - Monday, Nov. 4
The Canasian Cannabis Report - Monday, Oct 21