The 5 largest licensed producers (LPs), as tracked in our munKNEE Canadian Cannabis LPs Index, are ranked below, in descending order, as to their stock performances during the first week of May (MTD) and year-to-date (YTD):

1. Tilray (TLRY): Up 17.9% MTD; now Up 3.7% YTD
   • 22 analysts:
     • have an average 12-month price target representing a 57.0% increase from its current price and
     • have a consensus BUY rating.
   • In addition, TLRY has:
     • 68% chance of Financial Distress within 2 years,
     • 8.1% Short Interest,
     • 1.3% Insider Ownership,
     • 11.4% Institutional Ownership and
     • $1.6B in Market Capitalization.
   • Anheuser-Busch (BUD) has a $100 million joint venture with TLRY.
2. Aurora (ACB): Up 10.8% MTD; now Down 25.8% YTD
   • 14 analysts:
     • have an average 12-month price target representing a 139.7% increase from its current price and
     • have a consensus HOLD rating.
   • In addition, ACB has:
     • 78% chance of Financial Distress within 2 years,
     • 8.7% Short Interest,
     • 0.12% Insider Ownership,
     • 21.8% Institutional Ownership, and
     • $221M in Market Capitalization.
   • received a Nasdaq notice on March 27th that the company is no longer in compliance with the minimum bid price requirement as the price has been below $1.00 for a period of 30 consecutive business days and has been granted a period of 180 calendar days or until September 20, 2023 to regain compliance with the minimum bid price requirement.
3. Cronos (CRON): Up 7.5% MTD; now Down 20.2% YTD
   • 18 analysts:
     • have an average 12-month price target representing a 41.8% increase from its current price (Source) and
     • have a consensus BUY rating.
   • In addition, CRON has:
     • only a 2% chance of Financial Distress within 2 years (Source),
     • 3.7% Short Interest  (the number of shorted shares divided by the number of shares outstanding),
     • 5.4% Insider Ownership (directors and senior officers or other beneficial holders with 10% or more of the common shares),
     • 13.1% Institutional Ownership, and
     • $731M in Market Capitalization.
   • Altria Group (MO) has a 45% stake in CRON
4. OrganiGram (OGI): Up 4.0% MTD; now Down 33.3% YTD
   • 15 analysts:
     • have an average 12-month price target representing a 151.9% increase from its current price and
     • have a consensus BUY rating.
   • In addition, OGI has:
     • 49% chance of Financial Distress within 2 years,
     • NIL Short Interest,
     • 0.09% Insider Ownership,
     • 11.3% Institutional Ownership. and
     • $151M in Market Capitalization.
   • British American Tobacco (BTI) has invested C$221M in a product development partnership with OGI
5. Canopy Growth (CGC): Up 3.1% MTD; now Down 91.8% YTD
   • 23 analysts:
     • have an average 12-month price target representing a 97.7% increase from its current price and
     • have a consensus SELL rating.
   • In addition, CGC has:
     • 53% chance of Financial Distress within 2 years,
     • 16.1% Short Interest,
     • 0.08% Insider Ownership,
     • 13.5% Institutional Ownership, and
     • $645M Market Capitalization.
   • Constellation Brands (STZ) has a 39% stake in CGC.

Summary

The munKNEE Canadian Cannabis LPs Index is Up 10.3% MTD and is now Down 20.0% YTD. The average 12-month price target represents a 74.1% increase from its current price. In comparison, the 7 constituents in the munKNEE American Cannabis MSOs Index is Up 12.0% MTD but is still Down 8.8% YTD.

If you would rather buy a basket of Canadian cannabis licensed producer (LP) stocks, consider the Global X Cannabis ETF (POTX) which consists of the above 5 highlighted Canadian stocks plus another 12 cannabis or cannabis-related (i.e. auxiliary) stocks. It is Up 7.0% MTD and is now Down 21.2% YTD, in comparison.

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