E Cannabis Central: 88% Of Pot Stock Index Constituents Declined Thursday

The munKNEE.com Pot Stock Index of the 25 pure-play* cannabis stocks that trade for more than US$1/share declined 2.9% on Thursday with only 3 of the constituents advancing, 22 declining (88%)and 2 of the 4 associated sector categories declining. The details are as follows:

1 constituent advanced by 5% or more namely:

  • cbdMD (YCBD) +7.4% vs. -7.9% on Wednesday
    • Neptune (NEPT) advanced 4.2% vs. a decline of 1.1% on Wednesday 
    • Avicanna (AVCNF) advanced 3.5% on top of a 3.6% advance on Wednesday.

5  constituents declined by 5% or more, namely:

  1. Columbia (CCHWF) -9.5% on top of a 0.8% decline on Wednesday
  2. Medicine Man (SHWZ) -7.7% on top of a 5.8% decline on Wednesday 
  3. Greenlane (GNLN) -7.4% on top of a 6.0% decline on Wednesday
  4. Planet 13 (PLNHF) -7.3% on top of a 11.5% decline on Wednesday
  5. Curaleaf (CURLF) -6.0% on top of a 4.2% decline on Wednesday

17 other constituents declined.

Further details regarding the equal-weighted munKNEE.com Pot Stock Index are as follows:

1. *The 25 pure-play constituents in the munKNEE.com PSI are just that, pure, deriving 100% of their revenue from the sale of cannabis or cannabis-related products.

  • As such, unlike every marijuana ETF (see this TalkMarkets article) and every other cannabis tracking index (see this TalkMarkets article), the munKNEE.com PSI excludes "wanna-be" companies that generate little, if any, of their total revenue directly from the cannabis industry, to reflect the true health of the marijuana industry in the U.S. and Canada.
  • As such, the munKNEE.com PSI excludes: GW Pharmaceuticals (GWPH), Abbvie, (ABBV), Arena Pharmaceuticals (ARNA), GrowGeneration (GRWG), Scotts Miracle-Gro (SMG), Innovative Industrial Properties REIT (IIPR), New Age Beverages (NBEV), Alcanna (LQSIF), Alkerna (KERN) and Village Farms (VFF).
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Michael Keown 11 months ago Member's comment

$NEPT declined yesterday? For real? NEPT was up 4.55% yesterday.