Our last week’s pick, Oriental Culture Holding Ltd. (NASDAQ: OCG) went from $9.30 on last Monday’s closing, to $17.00 within three days (83%). Check out our latest pick in this new report.
After several consecutive weeks of declines, India and Germany experienced a surge in new cases of COVID-19 last week. The vaccine rollout is prompting a significant increase in air travel in the U.S., which we believe indicates rising confidence, and bodes well for an economic recovery.
Copper prices have remained resilient, although we have been predicting near-term weakness. Our outlook is reflecting in equities, as valuations of base metals producers were down 6%.
Statistics Canada released January 2021 cannabis sales data last week, which showed a 6% MoM decline. Sales declined in every province. We believe the decline in sales was due to seasonality from coming out of the holiday season
We note that the big four Canadian LPs are trading at a 96% premium (up from 88% last week) over their U.S. peers. We believe the current valuation discrepancy is due to the cannabis industry being federally illegal in the U.S., and anticipate the EV/R to converge as the U.S. approaches federal legalization.
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Companies Mentioned:
Galane Gold Ltd., FPX Nickel Corp., Chesapeake Gold Corp., Ion Energy Ltd., Inca One gold Corp., Golden Minerals Corp., Aton Resource Inc., Renforth Resources Inc., CopperBank Resources Inc., Braveheart Resources Inc., Monarch Mining Corporation, Southern Silver Exploration Corp., Vista Gold Corp., Sonoro Gold, Falcon Gold Corp., MGX Mineral Inc., Hello Pal International Inc., Banxa Holdings Inc., Kontrol Technologies Corp., Halo Collective Inc., Delta 9 Cannabis Inc., CannaOne Technologies Inc., Blueberries Medical Corp.
