E Cannabis Central: Major Resurgence In Larger Cap Pot Stocks To Date In September

During the first 2 weeks of September there was a 10.5% resurgence in the 19 pure play marijuana stocks that trade above C$5/share (i.e. non-penny stocks) greatly out-performing the 2.3% return of the 313 pot stock universe. That strongly suggests that the resurgence came almost exclusively from the larger cap stocks in the sector. This article highlights that disparity.

Of those 19 stocks, however, only 6 exceeded 10.5% ranging from 10.6% to 23.3%, as follows:

  1. Tilray Inc. (Nasdaq:TLRY) +23.3%
  2. Trulieve Cannabis Corp. (CSE:TRUL) +21.9%
  3. Canopy Growth Inc. (TSX:WEED; NYSE:CGC) +15.7%
  4. Acerage Holdings Inc. (CSE:ACRG.U; OTCQX:ACRGF) +13.8%
  5. Village Farms Inc. (TSX:VFF; Nasdaq:VFF) +11.1%
  6. Green Thumb Industries Inc. (CSE:GTII) +10.6%

The 10.5% increase for the non-penny sector was much greater than the 9 marijuana stock tracking indices which were up only 2.3% on average ranging from +5.9% to -1.1%.

Comparing the 10.5% increase for the non-penny stock sector with the average 2.3% return for all 313 stocks in the sector strongly suggests that the resurgence was primarily in the larger cannabis stocks.

The 12 marijuana ETFs were up 4.2% on average ranging from +5.9% to +0.6%. The 6 best performers were:

  1. Horizons Marijuana Life Sciences ETF (NEO:HMUS) +5.9%
  2. Amplify Seymour CNBS Cannabis ETF (NYSE:CNBS) +5.8%
  3. Evolve Marijuana Fund ETF (TSX:SEED) +5.5%
  4. Advisor Share Pure Cannabis ETF (NYSE:YOLO) + 5.2%
  5. ETFMG Alternative Harvest ETF (NYSE:MJ) +5.0%
  6. Innovation Shares The Cannabis ETF (NYSE:THCX) + 4.7%

The average return of only 4.2% for the various broad basket of pot stocks in the various ETFs serves to confirm that the resurgence in price performance was primarily in the larger cannabis stocks.

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