The American Multi-State Operators (MSOs) component of the vertically integrated (i.e. seed-to-sale)  munKNEE Pure-Play Pot Stock Index has gone up 34.6% since the beginning of 2021, +12.2% since the beginning of February and 2.5% just yesterday. This article identifies the winners and losers and the reasons behind their movements.

(For more information on the reason(s) behind the changes outlined below you are urged to click on the stock symbols provided by TalkMarkets, where additional articles are listed. All currency amounts are in U.S. dollars. Go here to convert to another currency.)

MSO Pure-Play Pot Stock Index Performance

The criteria for being included in the munKNEE MSO Pure-Play Pot Stock Sub-Index is that the constituents are Multi-State Operators that consistently trade for a minimum of US$1/share and generate 100% of their revenue directly from the sale of cannabis products.

As previously noted, the major surge in the price of MSO stocks is based on the anticipation that, with the Democrats winning the two Senate seats in Georgia giving them a majority in the Senate, favorable Federal marijuana legislation will be passed allowing American marijuana companies country-wide inter-state access to the large American market.

The sub-index has gone up 34.6% in the past 5 weeks with 17 of the 20 constituents advancing of which 12 did so in excess of 30%, as follows:

1. Vireo Health (VREOF): +120.3% to $3.26/share
   • has purchased cannabis licenses in Nevada which will allow the company to cultivate and produce medical and adult-use cannabis products in the state.
   • has launched a new line of naturally-augmented cannabis flower called Amplifi and is its first brand to utilizes itsnew TerpSafe packaging technology.
2. Acreage (ACRDF + ACRHF): +112.1% to an average of $11.01
   • Canopy Growth's original deal was to buy 100% of Acreage Holdings when the U.S. federally legalized cannabis but the deal was amended in January and has resulted in the creation of two new share classes. See here for what that means.
3. Medicine Man (SHWZ): +88.2% to $2.86/share
   • no specific news behind the increase other than a reaction to positive market sentiment.
4. Harvest Health (HRVSF): +62.0% to $3.50/share
   • has sold one of its Florida properties to Innovative Industrial Properties (IIP) for $23.8M and entered into a long-term triple net lease with them. 
   • has launched recreational cannabis sales in Arizona
5. cbdMD (YCBD): +50.2% to $4.43/share
   • has entered the global beauty and skincare market with the launch of 15 "cbdMD Botanical" products.
   • has expanded its direct-to-consumer operations into the United Kingdom (U.K.), officially launching a new website exclusively for U.K. customers allowing them to shop for cbdMD’s products online, with all orders shipping directly from its U.K.-based warehouse.
6. Charlotte's Web (CWBHF): +44.8% to $4.78/share
   • no specific news behind the increase other than a reaction to positive market sentiment.
7. Cresco (CRLBF): +40.3% to $13.85/share 
   • has acquired Bluma Wellness (BMWLF), a vertically integrated operator in Florida in an all-share transaction valued at US$213M.
   • has closed its offering of subordinate voting shares for gross proceeds of $125M.
   • has won approval from Arizona's Department of Health to sell recreational marijuana at its Sunnyside dispensary in Phoenix.
8. TerrAscend (TRSSF): +36.6% to $13.73/share
   • has closed its previously announced non-brokered private placement raising gross proceeds of C$224 million with 80% coming from four large U.S. institutional investors.  
9. Trulieve (TCNNF): +35.1% to $42.76/share
   • has been awarded four dispensary permits in West Virginia.
   • has opened three more dispensaries in Florida, for a total of 78 nationwide.
10. Harborside (HBORF): +32.5% to $2.08/share
    • announced that a complaint previously filed with the United States District Court, District of Oregon has been voluntarily dismissed in its entirety without prejudice.
    • has upsized its previously announced brokered private placement of units of the company at a price of C$2.55 for gross proceeds of approximately C$27M due to excess demand.  
11. Jushi (JUSHF): +32.3% to $7.75/share
    • has completed the acquisition of the remaining 20% of the equity interests of Agape Total Health Care Inc., a Pennsylvania dispensary permittee.
    • has opened its 4th retail location in Illinois and its 16th dispensary.
    • has acquired 100% of the equity of Organic Solutions of the Desert, LLC, an operating dispensary located in Palm Springs, California, and approximately 78% of the equity of a retail license holder located in Grover Beach, California with the rights to acquire the remaining equity in the future.
    • has applied for a storefront retail permit in Culver City, California. 
12. Green Thumb (GTBIF): +30.6% to $32.00/share
    • opened its second retail location in Erie, Pennsylvania, and its 52nd retail location in the nation, on February 3.

Planet 13 (PLNHF), Indus Holdings (INDXF), and IM Cannabis (IMCNF) are the only MSOs to have declined YTD and they did so by -1.4%, -2.1%, and -3.5%, respectively.

To track the performance of the munKNEE MSO Pure-Play Pot Stock Sub-Index throughout the day go here.