Last week, global equity markets were down 4.6% (down 0.3% in the prior week) amid escalating tensions in Eastern Europe. We had mentioned last week that continued tensions between Russia and Ukraine will have a contagion effect.
Valuations of gold producers were up 1% (down 6% previously) last week; base metal producers were up 5% (up 2% previously). Large caps have outperformed juniors recently.
As expected, prices of mainstream/popular cryptos decreased last week (down 12% on average) due to weakness in the S&P 500. As we expect the S&P 500 to remain volatile, we are expecting continued price pressure on cryptos this week.
As of March 7, 2022, there are 3,071 retail cannabis stores in Canada, a decrease of 12 stores WoW. Alberta added one store, and Ontario added nine stores, but there were 22 store closures in B.C.
Chalice Brands Ltd., Verde Agritech Plc, Cartier Resources Inc., Steppe Gold Limited, Hot Chili Limited, Sabre Gold Mines Corp., Sonoro Gold Corp., Enertopia Corporation, Azincourt Energy Corp., Equity Metals Corporation, Cornerstone Capital Resources Inc., Bayhorse Silver Inc., Mammoth Resources Corp., Rockcliff Metals Corporation, Sirios Resources Inc., Vertical Exploration Inc., Hempfusion Wellness Inc., Kiaro Holdings Corp., NEXE Innovations Inc., Yorkton Equity Group Inc., Eqonex Limited.,