After reporting gains for six consecutive weeks, global equity markets retreated last week, and were down 1.4% on average (up 1.6% in the prior week), amid hawkish statements from Fed officials.
Valuations of gold producers were down 4% last week (flat in the prior week); base metal producers were up 3% (up 2% in the prior week).
The global MCAP of cryptos is US$1.05T, down 0.12% MoM, and 46% YoY.
Currently, there are 3,360 retail cannabis stores in Canada, a decrease of seven stores WoW, including four in Alberta, and three in Ontario. This marks the third consecutive week with no store additions. However, we do not believe the sector is undergoing a slowdown, as there is room for another 1,700 stores in the country. We believe that certain areas within major cities are oversaturated, leading to store closures amid high competition.
