S Cannabis & Psychedelic Compound-Based Drug Stocks Continue To Decline

The munKNEE Pure-Play Marijuana & Psychedelic Compounds-Based Drug Stocks Index consists of 6 constituents in our Pure-Play Marijuana Drug Stocks Index sub-category and 12 in our Pure-Play Psychedelic Compounds-Based Drug Stocks Index. Which index has done the best so far in December? Which constituents contributed to their performances? This article has the answers.

One hundred clinical-stage psychedelic drug stocks now trade on North American stock exchanges. Sixty of them (see here) research the treatment of a variety of mental illnesses based on the use of 10 different psychedelic substances (read 10 Psychedelic Substances And The 36 Companies Researching Them) and 40 research the treatment of illnesses based on the use of THC marijuana (read Marijuana Drug Stocks: All You Need To Know). The criteria for inclusion in the munKNEE Pure-Play Marijuana & Psychedelic Compounds-Based Drug Stocks Index is that its constituents have market capitalizations in excess of $40M (only six have market caps below $100M) and only 18 of those 100 psychedelic drug stocks meet that criteria.

The Pure-Play Marijuana Drug Stocks Index

The 6 marijuana-based clinical-stage stocks:

  • are DOWN -8.6% so far in December 
  • are now DOWN -31.1% since the end of June
  • with 3 trading below $1/share; another 2 trading for less than $2/share  and 1 trading for $3.22/share with an average price of $1.27/share (Currency amounts are in U.S. dollars. Go here to convert to another currency) and
  • with an average market capitalization of about $100M currently.

Five of the 6 constituents are down in price so far in December with one, Allied (ALID), UP +1.7% (and up +145.3% YTD). The "losers" performed as presented below in descending order, with YTD percentages in brackets:

  1. Revive (RVVTF): -5.1% (-24.5% YTD)
  2. Tetra Bio (TBPMF): -6.7% (-6.7% YTD)
  3. Zynerba (ZYNE): -7.8% (+0.6% YTD)
  4. Corbus (CRBP): -14.8% (-40.0% YTD)
  5. Enveric (ENVB): -17.2% (-71.8% YTD ; yes, -71.8% YTD)

The Pure-Play Psychedelic Compounds-Based Drug Stocks Index

The 12 psychedelic compound-based clinical-stage stocks are divided into 2 groups based on their market capitalizations.

The 9 constituents with market caps below $1B:

  • are DOWN -10.3% so far in December,
  • are now DOWN -36.3% since the end of June
  • with 4 trading below $1/share; another 4 trading for less than $2/share, and one trading at $3.40 with an average price of $1.27/share (Currency amounts are in U.S. dollars. Go here to convert to another currency) with
  • an average market capitalization of $200M.

Two constituents, Red Light (TRUFF) and Awakn (AWKNF), are unchanged in price so far in December. Red Light remains DOWN -52.0% YTD while Awakn (Read: Awakn Life Sciences: Wake Up To The Huge Potential) is UP +3.7% since being listed on June 23rd of this year. The remaining 7 have declined as presented below in descending order with YTD percentages in brackets:

  1. Small Pharma (DMTTF): -3.1% (-16.1% to date in 2021),
  2. Seelos (SEEL): -6.5% (still +9.5% YTD),
  3. Mind Medicine (MNMD): -9.9% (now -40.3% YTD),
  4. Cybin (CYBN): -11.1% (-20.0% YTD),
  5. Mydecine (MYCOF): -12.5% (now -60.0% YTD; yes, 60.0% YTD!)
  6. Numinus (LKYSF): -14.6% (now -51.2% YTD!) and
  7. Field Trip (FTRP): -17.9% (still +4.6% YTD)

The 3 constituents with market caps above $1B:

  • are DOWN -9.1% so far in December,
  • are now DOWN -24.3% since the end of June
  • with one trading at $10.83/share; another trading at $23.96/share and the other trading at $25.34/share with an average price of $20.04/share (Currency amounts are in U.S. dollars. Go here to convert to another currency) with
  • an average market capitalization of $1.5B and they
  • have also did poorly so far in December, as follows:
  1. GH Resources (GHRS): +8.0% (now +12.7% since the end of June)
  2. Atai (ATAI): -3.2% (now -39.9% since the end of June)
  3. Compass Pathways (CMPS): -22.6% (and now -27.0% since the end of June)

On average, the 12 constituents in the munKNEE Pure-Play Psychedelic Compounds-Based Drug Stocks Index:

  • are DOWN -9.3% so far in December
  • are now DOWN -24.3% since the end of June
  • and now have an average market capitalization of $375M.

In Summary

In answer to the opening question as to which Index is doing the best so far in December:

  • the munKNEE Pure-Play Marijuana Drug Stocks Index went DOWN -8.6% during the first two weeks of December and is now DOWN -31.1% since the end of June,
  • the munKNEE Pure-Play Psychedelic Compounds-Based Drug Stocks Index went DOWN -9.3% during the first two weeks of December and is now DOWN -24.3% since the end of June and
  • the combined index of all 18 constituents went DOWN -9.2% during the first two weeks of December and is now DOWN -25.0% since the end of June.

As a point of comparison, the non-tradable Psychedelic Market Leaders Index of 30 stocks, with an average market cap of $220M, was down -10.0% last week while the non-tradable Psychedelic Invest Index, which tracks the performance of ALL 60 stocks in the sector (an average market capitalization of just $120M), was down -10.3%. The larger declines indicate that a preponderance of smaller cap companies declined more so than the larger companies in the munKNEE drug stock indices. 

Visit  munKNEE.com and register to receive our free Market Intelligence Report newsletter (sample  more

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.