Canadian Vs. American Pot Stock Performances Last Week

person holding white flower during sunset

At last count there were 225 cannabis and ancillary companies trading on the various North American stock exchanges but only 23 meet the criteria* for inclusion in the munKNEE  Pure-Play "Seed-to-Sale" Pot Stocks Index which consists of two sub-categories: the munKNEE Canadian Pure-Play Licensed Producers (LPs) Pot Stock Index and the munKNEE Pure-Play American Multi-State Operators (MSOs) Pot Stock Index. Which have performed the best so far in August and year-to-date: LPs or MSOs? This article has the answers.

*The criteria for inclusion in the munKNEE marijuana indices are vertically integrated (seed-to-sale) companies that derive 100% of their revenue from the sector, have a market capitalization in excess of US$300, and trade for at least US$1/share. Only 6 Canadian LP stocks and 17 American MSO stocks meet those criteria.

The  munKNEE Canadian Pure-Play Licensed Producers Pot Stock Index

  • is -6.3% so far in August (MTD) and
  • is now -4.0% YTD.
    • Its constituents are: Canopy (CGC), Tilray (TLRY), Cronos (CRON), Aurora (ACB), Organigram (OGI), and Hexo (HEXO).
      • 4 of the 6 constituents in the sub-category have changed in price by 5% or more MTD, namely:
        • Organigram: +10.7% MTD; now +118.0% YTD
          • Announce the appointment of Beena Goldenberg, formerly CEO of The Supreme Cannabis Company Inc.,  as the Company’s new CEO.
          • Completed the acquisition of Edibles & Infusions Corp. to bolster its cannabis 2.0 offerings.
        • Tilray: +9.0% MTD; now +61.0% YTD
          • Reported a positive net income in its latest Q4 financial report (see details here).
          • Launched medical cannabis edibles in THC and CBD-rich varieties of chocolates and soft chew gummies across Canada.
        • Hexo: -11.1% MTD; now -3.8% YTD
          • Applied to transfer its U.S. stock exchange listing from the New York Stock Exchange to the Nasdaq effective August 23, 2021 after market close. 
        • Cronos: -12.2% MTD; now -6.8% YTD
          • Reported dismal Q2 financial results (see details here)

The munKNEE American Pure-Play Multi-State Operators Pot Stock Index

  • is -3.2% MTD and
  • is now +5.3% YTD.
    • Its constituents are: Curaleaf (CURLF), Green Thumb (GTBIF), Trulieve (TRSSF), Verano (VRNOF), Cresco (CRLBF, TerrAscend (TRSSF), Columbia (CCHWF), Harvest Health  (HRVSF),   Ascend Wellness (AAWH), Planet 13 (PLNHF), Ayr (AYRWF), Jushi (JUSHF), 4 Front (FFNTF), Charlotte's Web (CWBHF), Gage (GAGE),  Acreage (ACRDF & ACRHF) and Goodness Growth (GDNSF).
      • 8 of the constituents in the sub-category changed in price by 5% or more last week, namely:
        • Green Thumb: +7.3% MTD; now +29.2% YTD 
          • reported spectacular Q2 financial results (see details here).
        • Charlotte's Web: +5.3% MTD; now +2.1% YTD
          • reported favorable Q2 financial results
        • Acreage: -7.3% MTD; now -1.0% YTD
          • reported less than favorable Q2 financial results
        • Trulieve: -8.3% MTD; now -5.3% YTD
          • reported outstanding Q2 financial results (see details here)
        • Harvest Health: -8.7% MTD; still +56.0% YTD
          • reported much improved Q2 financial results (see details here)
        • Gage Growth: -9.2% MTD and is now down -24.6% since it began trading on April 6th.
        • Columbia Care: -9.6% MTD; now -26.3% YTD  
          • reported record Q2 financial results
        • Verano: -21.9% MTD and is now down -46.6% since it began trading on February 18th.
          • reported disappointing Q2 financial results (see details here).

In Summary:

  • the munKNEE Pure-Play "Seed-to-Sale" Pot Stocks Index is -3.2% MTD and is now down to +5.3% YTD while 
    • the MSO sub-index
      • has outperformed the LP sub-index MTD at -3.2% vs. -6.3% and
      • has outperformed the LP sub-index YTD at +5.3% vs. -4.0% YTD.

The above non-tradable indices replicate the performance of a portfolio investing an equal amount of money in each company in the cannabis categories, with daily rebalancing to maintain equal weight.


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