The NPSI advanced 3% on Monday with 13 of the 25 constituents going UP, 9 going DOWN and 3 having no change in price. In addition, 2 of the 3 sector categories advanced. The details are below.

• 5 constituents increased more than 5%, namely: cbdMD (YCBD) +23.6%; Tilray (TLRY) +12.8%; AYR (AYRSF) +9.9%; Planet 13 (PLNHF) +7.6% and Village Farms (VFF) +6.5%
• 2 constituents declined by 5% or more, namely: Avicanna (AVCNF) -11.7% andMedicine Man (SHWZ) -6.1% 

As a group, the 8 Canadian Licensed Producers ( LPs) in the index  advanced by 3.5%, the 11 American Multi-State Operators (MSOs) advanced by 1.2% and the 3 hemp pure play MSOs advanced by 2.3%.

1. The Vertically Integrated (i.e. Seed-to-Sale) Category consists of 22 companies that grow, process, and sell cannabis and hemp flower and related products and it advanced 2.4% on the day.
   • the 8 constituents that are Canadian Licensed Producers (LPs) advanced by 3.5%
     • ACB; APHA; CGC; CRON; OGI; ROMJF; TLRY and VFF
   • the 11 constituents that are U.S. Multi-State Operators (MSOs) advanced by 1.2%
     • ACRGF; AYRSF; CCHWF; CRLBF; CURLF; GTBIF; JUSHF; PLNHF; SHWZ; TRSSF and TCNNF
   • the 3 constituents that are only involved in the seed-to-sale of CBD from hemp advanced by 2.3%
     • AVCNF; CWBHF and YCBD
2. The Extraction Category consists of companies focused on the extraction of cannabis compounds and their infusion into consumer products and it advanced 0.2% on the day
   • the 2 constituents in this category are NEPT and VLNCF   
3. The Consumption Devices Category consists of companies focused on developing and selling personal consumption devices for cannabis consumers such as vape pens and inhalers and it declined 3.7% on the day 
   • the 1 constituent in this category is GNLN

To more accurately reflect the true health of the cannabis sector the NPSI excludes all 12 of the non-penny companies in the BioPharmaceutical Category despite the fact that virtually every other cannabis ETF and pot stock tracking index includes at least 1 such biopharmaceutical or therapeutic stock (such as GW Pharmaceuticals (GWPH) or Cara Therapeutics {Cara), for example). Why the exclusion? Because all the companies, except GW Pharma in a minor way, are just doing research into the development of pharmaceuticals using cannabis (THC and/or CBD) and/or hemp (CBD) in the hope of developing such products and successfully introducing them into the marketplace and, as such, can hardly be considered marijuana-related companies. The same can be said for those "marijuana" stocks in the other 4 supposedly marijuana categories. The stocks in these categories will be reviewed in a future article.  

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