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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 performance so far this week (as of mid-day, Thursday) and last week (see here):

1. OrganiGram (OGI): DOWN 5.8% so far this week; UP 4.0% Last Week
   • 15 analysts:
     • have an average 12-month price target representing a 167.3% 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
     • $155M in Market Capitalization.
   • British American Tobacco (BTI) has invested C$221M in a product development partnership with OGI
2. Tilray (TLRY): DOWN 7.9% so far This Week; UP 17.9% Last Week
   • 22 analysts:
     • have an average 12-month price target representing a 70.6% increase from its current price and
     • have a consensus BUY rating.
   • In addition, TLRY has:
     • 68% chance of Financial Distress within 2 years,
     • 8.3% Short Interest,
     • 1.3% Insider Ownership,
     • 11.4% Institutional Ownership and
     • $1.7B in Market Capitalization.
   • Anheuser-Busch (BUD) has a $100 million joint venture with TLRY.
3. Cronos (CRON): DOWN 9.5% so far This Week; UP 7.5% Last Week
   • 18 analysts:
     • have an average 12-month price target representing a 56.6% 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),
     • NIL % 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
     • $709M in Market Capitalization.
   • Altria Group (MO) has a 45% stake in CRON
4. Aurora (ACB): DOWN 10.6% so far This Week; UP 10.0% Last Week
   • 14 analysts:
     • have an average 12-month price target representing a 176.3% 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
     • $213M 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.
5. Canopy Growth (CGC): DOWN 16.4% so far This Week; UP 3.1% Last Week
   • 23 analysts:
     • have an average 12-month price target representing a 129.5% 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
     • $631M Market Capitalization.
   • Constellation Brands (STZ) has a 39% stake in CGC.

Summary

The munKNEE Canadian Cannabis LPs Index was DOWN 10.0% as of mid-day, May 11th, from its close last Friday and is now DOWN 28.0% YTD. The average 12-month price target represents a 93.5% increase from its current price. In comparison, the 7 constituents in the munKNEE American Cannabis MSOs Index were DOWN 9.8% from their closes mid-day, May 11th, and are now DOWN 17.6% YTD with an average 12-month price target representing a 220.4% increase from its current prices.

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 5.4% so far this week and is now DOWN 25.4% YTD, in comparison.

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