Here we are with the end-of-the-week edition of Inside Alpha! Thank you for stopping by – it’s time to see how our three stock picks from the beginning of the week are faring. You see, every week at Inside Alpha we select three stocks in a particular sector and watch their progress throughout the trading week.
When the trading week is near the end, we announce the winner based on percentage gain, and that winner is known as the Alpha. Throughout this week, we’ve been monitoring three stocks in the cannabis (and related products and services) sector.
Please note that for Canadian stocks that have both Canadian and U.S. versions, we will use the Canadian version, but the U.S. version will likely have similar results on a percentage gain-or-loss basis. Let’s get ready, as it’s time to pull out the calculator and see which cannabis stock pick is the Alpha!
We’re going to commence with this week’s first stock pick in the cannabis sector: Tilray, Inc. (TLRY). Headquartered in Nanaimo, British Columbia, Canada, Tilray, Inc. is involved in the research, cultivation, processing, and distribution of medical cannabis.
You may recall that TLRY stock shares traded at $143.62 at the end of the day on Friday; at the close of Thursday’s trading session, Tilray stock was $145.57, signifying a gain of 1.43%. That’s not too bad, but will that be sufficient to make Tilray this week’s Alpha?
Next, we can move on to our second cannabis-sector stock pick for this week: Auxly Cannabis Group Inc. (TSX.V:XLY). Located in Vancouver, British Columbia, Canada, Auxly Cannabis Group Inc. operates as a cannabis streaming company.
XLY stock shares cost CAD$1.15 per share at the finish of Friday’s trading session; at the close the markets on Thursday, Auxly shares were priced at CAD$1.11, representing a loss of 3.5%. Unfortunately, that means that Auxly Cannabis Group Inc. will not be the Alpha stock pick for this week.
Heading towards the finish line, we come to cannabis stock pick number three: Medical Marijuana, Inc. (MJNA). Based in Poway, California, Medical Marijuana, Inc. is an investment holding company that operates in the medical marijuana and industrial hemp markets.
Stock shares of MJNA completed last week’s trading on Friday at $0.09 per share; when the market session ended on Thursday, Medical Marijuana Inc’s stock price was $0.09, signifying a week of sideways price action for MJNA. We can conclude, then, that Tilray, Inc. is this week’s Alpha in the cannabis sector, so congratulations if you held a long position in TLRY!
Making money in cannabis stocks means getting up-to-the-minute news and hard-hitting analysis as new developments occur in the markets. Inside Alpha brings this to you day in and day out, and we’re more than happy to help you capitalize on the cannabis movement in North America and worldwide. We’ll see you again very soon, here at Inside Alpha!