Cannabis LP Tilray Brands Jumped 41% W/E October 3rd, Here's Why
Introduction
Tilray Brands (TLRY) surged 41% during the week ending October 3rd driven by a combination of political buzz and international expansion:
Political Buzz
The cannabis market, both in Canada and the U.S. (see here), reacted big time to Trump's re-posting of a pro-CBD video on Truth Social last weekend, produced by The Commonwealth Project that highlighted CBD’s potential to reduce aging-related ailments and replace costly pharmaceuticals. This sparked investor optimism that this would lead to increased mainstream acceptance of CBD and that the industry would eventually see a shift in regulations in the U.S..
International Expansion
In addition, Tilray issued a press release on Tuesday announcing the expansion of its medical cannabis flower portfolio in Germany, strengthening its European footprint and adding to its diversified revenue streams.
Our Canadian Cannabis LP Stocks Portfolio
Below are how the 5 LP cannabis stocks tracked in our Portfolio performed week-ending October 3rd, in descending order, and YTD, and a chart showing how the Portfolio has performed over various time periods:
- Tilray Brands (TLRY): UP 40.9% w/e October 3rd; UP 21.8% YTD
- Aurora Cannabis (ACB): UP 16.3% w/e October 3rd; UP 32.9% YTD
- Organigram Global (OGI): UP 11.2% w/e October 3rd; UP 16.8% YTD
- Canopy Growth (CGC): UP 2.2% w/e October 3rd; DOWN 93.8% YTD
- Cronos Group (CRON): DOWN 1.9% w/e October 3rd; UP 27.8% YTD
Summary
The above stocks were UP 12.3%, on average, this week, and are now UP 9.6% YTD.
A Comparison Chart Of The Performance Of The 5 Constituents YTD
(Click on image to enlarge)
Source: stockcharts.com
A Chart Of The Performance Of The Portfolio YTD
(Click on image to enlarge)
The above portfolio chart has been generated using the tools provided by PortfoliosLab.com and easy step-by-step instructions are available here to help you create a chart of your own portfolio or that of a client. Its easy, fast and free.
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This article has been composed with the exclusive application of the human intelligence (HI) of the author. No artificial intelligence (AI) technology has been deployed.
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