Cannabis Central: Wednesday Was A Great Day For Pure-Play Pot Stocks
All but 2 constituents in the munKNEE.com Pure-Play Pot Stock Index of the 25 pure-play cannabis stocks that trade for more than US$1/share went UP on Wednesday with all 3 industry categories going UP as well. Details are as follows:
Wednesday's Index Performance
The index was UP 4.7%. Details are as follows:
- 23 constituents went UP with 9 increasing by 5% or more, as follows:
- Planet 13 (PLNHF) +11.9% in a delayed response to the preliminary release yesterday (see here) of its record Q3 revenue numbers.
- Canopy Growth (CGC) +8.5%
- cbdMD (YCBD) +8.2%
- Acreage (ACRHF) +7.1%
- Organigram (OGI) +6.6%
- Trulieve (TCNNF) +6.5%
- Tilray (TLRY) +6.1%
- Cronos (CRON) +5.6%
- Jushi (JUSHF) +5.0%
- 1 constituent had No Change in price, namely: Rubicon (ROMJF)
- 1 constituent went DOWN marginally (-0.9%), namely, Medicine Man (SHWZ).
The munKNEE.com Pure-Play* Pot Stock Index includes companies doing business in 3 different categories based on their primary area of focus in the cannabis industry. The categories are identified below with how they performed given the performance of the stocks in the index that make up each category:
- The Vertically Integrated (i.e. Seed-to-Sale) Category has 22 index constituents that grow, process, and sell cannabis and hemp flower and related products and it was UP 4.8%.
- the 7 Canadian Licensed Producer (LPs) index constituents (ACB; APHA; CGC; CRON; OGI; ROMJF and TLRY) went UP 5.9%, on average.
- the 13 U.S. Multi-State Operator (MSOs) index constituents (ACRDF; ACRHF; AYRSF; CCHWF; CRLBF; CURLF; GTBIF; HRVSF; JUSHF; PLNHF; SHWZ; TCNNF and TRSSF) went UP 4.2%, on average.
- the 2 hemp seed-to-sale MSO index constituents (CWBHF and YCBD) went UP 5.4%, on average.
- The Extraction Category has 2 index constituents (NEPT and VLNCF) focused on the extraction of cannabis compounds and their infusion into consumer products and they went UP 3.8%, on average.
- The Consumption Devices Category has only 1 index constituent (GNLN) focused on developing and selling personal consumption devices for cannabis consumers such as vape pens and inhalers and it went UP 1.8%.
*Please note: The 25 pure-play stocks in the munKNEE.com Pure-Play Pot Stock Portfolio are just that, pure, deriving 100% of their revenue from the sale of recreational and medicinal cannabis and consumption-related products and, as such, it reflects the true health of the marijuana industry in the U.S. and Canada.
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