March Recap: 5 Largest Canadian Cannabis LPs Up 65%, On Average

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A historic vote in Germany in March decriminalizing the sale of cannabis there sparked a rally in shares of Canadian cannabis LP stocks by 64.6% during the month.

Below is how each of the 5 constituents in the munKNEE Canadian Cannabis LP Stocks Index performed in March and how well they have performed YTD:

  1. Canopy Growth (CGC): UP 162.3% in March; UP 68.9% YTD 
    • The decriminalizing of cannabis in Germany sparked a major jump in the share price of Canopy Growth which does business there.
  2. Tilray Brands (TLRY): UP 42.8% in March; UP 7.4% YTD
    • Some analysts believe that Germany will be a key winner for Tilray’s distribution business and Tilray, itself, believes that it can double its German revenue in the next few years.
  3. Aurora Cannabis (ACB): UP 39.8% in March; DOWN 10.8% YTD
    • received the Good Manufacturing Practice certification from Australia's Therapeutic Goods Administration for its Canadian production facilities, River and Ridge which will allow Aurora to broaden its product range offerings in the Australian medical cannabis market.
  4. Cronos Group (CRON): UP 26.0% in March; UP 25.4% YTD 
    • launched its first entry into the chocolate edibles category of Lord Jones® Chocolate Fusions.
  5. Organigram Holdings (OGI): DOWN 3.9% in March; UP 64.1% YTD
    • entered into an underwriting agreement with ATB Securities Inc., as lead underwriter, on behalf of itself and a syndicate of underwriters to sell 7,740,000 Units at a price of C$3.23 per Unit for total gross proceeds of approximately C$25 million.

In Summary

The munKNEE Canadian Cannabis LP Stocks Index went up 64.6% in March and is now up 28.8% YTD.

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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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