MTL Cannabis (STU:J4E) Momentum Rank : 0 (As of May. 28, 2024)

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What is MTL Cannabis Momentum Rank?

MTL Cannabis has the Momentum Rank of 0.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

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MTL Cannabis (STU:J4E) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Tobacco Products » MTL Cannabis Corp (STU:J4E) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

J4E:Germany MTLC:Canada

Address

1773 Bayly Street, Pickering, ON, CAN, L1W 2Y7

Website

https://www.mtlcannabis.ca

MTL Cannabis Corp is a flower-first company built for the modern street, MTL Cannabis uses proprietary hydroponic growing methodologies supported by handcrafted techniques to produce products that are truly crafted for the masses. The company focuses on craft quality cannabis products, including lines of dried flower, pre-rolls and hash marketed under the MTL Cannabis, Low Key by MTL and R'belle brands for the Canadian market through nine distribution arrangements with various provincial cannabis distributors. It has also developed a number of export channels for bulk and unbranded GACP quality cannabis.

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