The equal-weighted, pure-play Non-penny Pot Stock Index (NPSI) built on its 6.3% advance last Friday with a 1.8% gain on Monday. 15 of the 25 constituents went UP, 9 went DOWN and 1 had no change in price. In addition, two of the three associated sector categories advanced as well. The details are as follows.

Below are the price changes for the constituents that either advanced or declined by 5% or more:

Major Winners

• 3 constituents went UP in excess of 10%, namely:
  • Cresco (CRLBF) +11.4%
  • Curaleaf (CURLF) +11.4%
  • Jushi (JUSHF) +10.6%
• 4 constituents went UP between 5% and 9.9%, namely:
  • Aphria (APHA) +8.8%
  • TerrAscend (TRSSF) +6.0%
  • AYR (AYRSF) +5.8%
  • Acreage (ACRGF) +5.5%

The remaining 8 constituents went up by less than 5%.

Major Losers

3 of the 9 constituents went DOWN by 5% or more, namely,

• Charlotte's Web (CWBHF) -6.8%
• Tilray (TLRY) -6.7%
• Neptune (NEPT) -6.4%

The remaining 6 constituents went DOWN by less than 5% while Medicine Man (SHWZ) had no change in price.

Further details regarding the equal-weighted index are as follows:

• 4 constituents trade between US$10 and US$20/share,
• 5 trade between US$5 and US$10/share and
• 16 trade between US$1 and US$5/share. 
  • The official definition of a "penny" stock is one that trades below US$5/share but, when it comes to pot stocks, that is where 92% of the total universe trades, so the more literal definition of stocks that trade for less than US$1/share is used. 

The market capitalization makeup of the NPSI (calculated by multiplying the number of a company's shares outstanding by its stock price per share) now consists of:

• Large-Cap (+US$10B): 0
• Mid-Cap (US$2B to US$10B): 4
• Small-Cap (US$300M to US$2B): 9
• Micro-Cap (US$50M to US$300M): 11
• Nano-Cap (<US50M) 1
• Average Market Cap: US$963M

In addition, the constituents operate in 3 categories based on their primary area of focus in the cannabis industry and the constituents within each category are identified below with how each of the categories did on Friday:

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 1.9% on the day.
   • the 8 constituents that are Canadian Licensed Producers (LPs) declined by 0.7%
     • ACB; APHA; CGC; CRON; OGI; ROMJF; TLRY and VFF
   • the 11 constituents that are U.S. Multi-State Operators (MSOs) advanced by 5.1%
     • 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 declined by 2.6%
     • 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 declined 3.0% 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 advanced 3.0% on the day 
   • the 1 constituent in this category is GNLN

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