Cannabis Central: 80% Of Stocks In Pure-Play Pot Portfolio Declined Again On Wednesday

The munKNEE.com Pure-Play Pot Stock Portfolio consists of the 25 pure-play* cannabis stocks that trade for more than US$1/share and it  declined  2.4%  Wednesday with 20 (80%) of the stocks in the portfolio going DOWN for the second day in a row as well as 3 of the 4 industry categories. The details are as follows:

Major Winners

Only 1 stock advanced by 5% or more, namely:

  • Planet 13 (PLNHF) +5.0%

3 other stocks went up by less than 5% and 1 stock had no change in price.

Major Losers

Only 3 stocks declined by 5% or more, namely:

  1. Greenlane (GNLN) -7.8%
  2. Medicine Man (SHWZ) -5.6%
  3. Green Thumb (GTBIF) -5.3%

17 other stocks declined by less than 5% in price.

The 25 munKNEE.com Pure-Play Pot Stock Portfolio has stocks doing business in 4 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 portfolio that make up each category:

  1. The Vertically Integrated (i.e. Seed-to-Sale) Category has 21 portfolio participants that grow, process, and sell cannabis and hemp flower and related products and they went DOWN 2.2%, on average.
  2. The Extraction Category has 2 portfolio participants (NEPT and VLNCF) focused on the extraction of cannabis compounds and their infusion into consumer products and they went DOWN 2.8%, on average.
  3. The Consumption Devices Category has only 1 portfolio participant  (GNLN) focused on developing and selling personal consumption devices for cannabis consumers such as vape pens and inhalers and it went DOWN 7.8% in price.
  4. The Biotechnology Category has only 1 portfolio participant (AVCNF) which markets new drugs utilizing cannabinoids (CBD) and it went UP 3.1%.

*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 so as to reflect the true health of the marijuana industry in the U.S. and Canada.

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.
Or Sign in with
Moon Kil Woong 4 years ago Contributor's comment

Most all stocks declined today besides two of the three stocks I wrote on recently. Selectivity counts now more than ever and you must be aware of the market risk in stocks. Cannabis is not a good sector right now although I'm not sure how much it is the sector than it is the market in total.

Weed Investor 4 years ago Member's comment

Thanks for the great buy signal, cannabis sector set to rally higher big league.