Cannabis LPs Jumped 10% On Freaky Friday; Trading Volume Jumped 20%

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As I discussed in my previous article last Friday was "Triple Witching Day” - or "Freaky Friday" (see here) - on Wall Street with stock options*, market index options and market index futures all expiring on the same day. This usually generates higher trading volumes since contracts allowed to expire cause traders to close, roll out, or offset their expiring positions. (Stock options contracts are contracts taken out on the direction of a stock price at a future date which give the buyer the right to buy or sell shares of a company within that future timeframe. Calls let you buy stock shares at a set price, known as the strike price, on or before the expiration date. Puts give you the right to sell shares.)

Individual stocks, stock prices can be bid higher and higher during the last hour of the trading day if traders want to own certain stocks that they believe have the potential to achieve much higher prices before a contract were to expire. That is exactly what happened last Friday with trading volume UP 20.0% in the 5 stocks in the  munKNEE Canadian Cannabis LP Stocks Index.

The Index continues to decline. It went down 61% in 2021, down 71% in 2022, down 65% in 2023, and went down 5.7% in February and is now down 22.7% so far in 2024.

Below is how each of the stocks in the Index changed:

  • in price on March 15th vs. March 14th, in descending order,
  • in trading volume on March 15th vs. the average daily trading volume,
  • in its 6-week (end of January) price trend,
  • plus any recent news, commentary, and/or analysis on each company.
  1. Organigram Holdings (OGI): Price: UP 11.3%; Volume: UP 24.5%; Price Trend: DOWN 24.7%
    • Latest News, Commentary and/or Analysis: None
  2. Canopy Growth (CGC): Price: UP 11.2%; Volume: UP 48.5%; Price Trend: DOWN 34.0%
  3. Aurora Cannabis (ACB): Price: UP 10.0%; Volume: UP 132.5%; Price Trend: DOWN 18.3%
    • Latest News, Commentary and/or Analysis: None
  4. Tilray Brands (TLRY): Price: UP 8.1%; Volume: UP 9.8%; Price Trend: DOWN 5.5%
  5. Cronos Group (CRON): Price: UP 6.1%; Volume: UP 38.8%; Price Trend: UP 5.0%

In Summary

The munKNEE Canadian Cannabis LP Stocks Index went UP 9.5% last Friday, UP 1.8% in the week, is DOWN 6.8% in the last 6 weeks and is now DOWN 22.7% YTD.

More By This Author:

"Freaky Friday" Startled Our American Cannabis MSO Index, In A Good Way
“Triple Witching Day” Or "Freaky Friday" On Wall Street
Q4 Financials Of Cannabis MSO, TerrAscend, Were Terrible

Disclosure: None

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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