Last week’s pick, Tilray (TSX:TLRY), went from $19.07 last Monday, to a high of $23.04 on Wednesday (up 20.8%).
Canada overtook Israel last week, and is now at the top, in terms of percentage of the population with at least one dose. 64.7% of Canada’s population has received at lease one dose vs 61.6% at the same time last week. Canada has been gradually relaxing its restrictions, and consumer sentiment is on the rise.
The U.S. Fed’s meeting later this week will give us more insights on their inflation expectations, and plans for rate hikes. We have a positive outlook for gold and silver, as we are not expecting rate hikes this year.
As of June 14, 2021, the Canadian big four LPs are trading at a 120% premium (up from 106% in the prior week) over their U.S. peers. We continue to believe this valuation gap will diminish as the U.S. moves closer to legalization.
