Upward Trend In Canadian Cannabis Stocks Continues


The Canadian Pure-Play Pot Stocks Index went UP 6.4% this week with 4 of the 5 constituents advancing and it is now UP 21.8% since the end of June albeit DOWN 50.0% YTD.  

The Canadian Pure-Play Pot Stocks Index consists of the 5 largest vertically integrated (i.e. seed-to-sale) Licensed Producers (LPs) with market capitalizations of $300M or more whose stocks trade for US$1/share or more and trade on one or more of the Canadian and/or American stock exchanges.

Below are the performances of its constituents for this week, in descending order, and since the end of June.

  1. Canopy Growth (CGC): UP 22.2% this week; UP 15.8% since the end of June
    • Recent Analysis/Commentary: Go here
  2. Aurora (ACB): UP 16.7% this week; UP 32.6% since the end of June
    • Recent Analysis/Commentary: Go here
  3. Organigram (OGI): UP 6.3% this week; UP 28.3% since the end of June
    • Recent Analysis/Commentary: Go here
  4. Tilray (TLRY): UP 3.3% this week; UP 29.2% since the end of June
    • Recent Analysis/Commentary: Go here
  5. Cronos (CRON): DOWN  7.0% this week; UP 12.4% since the end of June
    • Recent Analysis/Commentary: Go here

In total, the munKNEE Canadian Pot Stocks Index went UP 6.4% this week and has gone UP 21.8% since the end of June.

If you are interested in investing in the Canadian LP category then consider doing so in a cannabis ETF with the largest percentage of such as the Global X Cannabis ETF (POTX). Read my recent article on marijuana ETFs here.

If you are adventuresome then consider investing in one of the following leveraged (inverse or bull) ETFs:

  1. ETFMG 2x Daily Inverse Alternative Harvest ETF (MJIN)
  2. ETFMG 2x Daily Bull Alternative Harvest ETF (MJXL)
  3. BetaPro 2x Inverse Canadian Marijuana Companies ETF (HMJI)
  4. Horizons 2x Bull Marijuana Companies ETF (HMJU)

An "inverse" ETF is the way to go if you think the cannabis sector is going to decline considerably in the months ahead while a 'bull" ETF is for those that think the sector is going to advance. Personally, I think the marijuana market has no where to go but up having declined 50% YTD - and having declined 91.4% from its peak in February 2021. That is not a recommendation so do your own research before taking a position.


More By This Author:

Cronos Group Q2 Net Revenue Loss Reduced By 38%
Acreage Holdings' Q2 Financial Report Shows Marked Improvement
Metaverse Stocks Index Up 5% Last Week; Up 17% Since End Of June

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