5 Largest Canadian Cannabis LPs Down 11% This Week

Image Source: Pixabay

The 5 largest licensed producers (LPs) in our munKNEE Canadian Cannabis LPs Index are ranked below, in descending order, as to their stock performances this week and MTD.

1. Cronos (CRON): down 9.1% this week; down 8.2% MTD 
   • Read: Could Cronos Make You a Millionaire?
2. Tilray (TLRY): down 11.4% this week; up 3.1% MTD
   • current short interest: 12.1% - A high short interest signals that investors have become more bearish and may be getting ready to sell and, as such, that it may be time to liquidate a long position.
   • Read: Increasing Losses Might Not Be Inspiring Confidence Among Its Investors
3.  OrganiGram (OGI): down 11.5% this week; down 4.8% MTD
   • Read: Organigram Relaunches one of Canada’s First Cannabis Brands, Trailblazer
4. Aurora (ACB): down 13.7% this week; down 17.0% MTD
   • Read: Aurora Cannabis Announces Fiscal 2024 First Quarter Results, and Delivers Record Positive Adjusted EBITDA
5. Canopy Growth (CGC): down 15.2% this week; down 17.0% MTD
   • Read: Canopy Growth Enters into an Agreement for the Sale of Hershey Drive Facility in Smiths Falls

Summary

The munKNEE Canadian Cannabis LPs Index is down 11.2% this week and is now down 4.9% so far in August as compared to the 7 constituents in the munKNEE American Cannabis MSOs Index, which are up 3.0%, on average, this week but is down 12.2% MTD.

The Global X Cannabis ETF (POTX) consists of the above 5 highlighted Canadian stocks plus another 12 cannabis or cannabis-related (i.e. auxiliary) stocks. It is down 6.3% this week and is now down 5.8% MTD.

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