The NPSI (Non-penny Pot Stock Index) tracks the 35 cannabis stocks that trade for US$1/share or more (i.e. 12% of the universe of 298 companies) and it was down 3.9% on Friday on the heels of a 3.1% decline on Thursday.

The performance of the NPSI constituents are presented below within each of 9 categories to allow for performance comparisons within similar areas of focus:

1. Cultivation & Retail Category:

• The category consists of companies that grow and sell cannabis flower and related products.
• The constituents within this category performed as follows:
  1. Acreage Holdings Inc. (ACRGF)  -7.0%
  2. Alcanna Inc. (LQSIF) -1.7%
  3. Aphria Inc. (APHA) -5.6%
  4. Canopy Growth Corporation (CGC) -4.6%
  5. Columbia Care Inc. (CCHWF) -3.9%
  6. Cronos Group Inc. (CRON) -5.1%
  7. Curaleaf Holdings Inc. (CURLF) -8.3%
  8. FSD Pharma Inc. (HUGE) +0.4%
  9. Green Thumb Industries Inc. (GTBIF) -4.9% 
  10. MediPharm Labs Corp. (MEDIF) -7.8%
  11. Organigram Holdings Inc. (OGI) -5.1%
  12. Planet 13 Holdings Inc. (PLNHF) -3.9%
  13. Rubicon Organics Inc. (ROMJF) N/C
  14. TerrAscend Corp. (TRSSF) -5.6%
  15. Tilray Inc. (TLRY) -10.1%
  16. Trulieve Cannabis Corp. (TCNNF) -4.8%
  17. Valens GroWorks Corp. (VLNCF) -4.9% 
• The average price change was -5.3%

2. Biotechnology Category:

• The category consists of pharmaceutical companies focused on R&D of new drugs and products utilizing cannabinoids.
• The constituents within this category performed as follows:
  1. Abacus Health Products Inc. (ABAHF) -5.8%
  2. Avicanna Inc. (AVCNF) -0.6%
  3. Cara Therapeutics Inc. (CARA) -3.9%
  4. Corbus Pharmaceuticals Holdings Inc. (CRBP) -7.1%
  5. GW Pharmaceuticals Plc (GWPH) -0.7%
  6. Zynerba Pharmaceuticals Inc. (ZYNE) -4.4%
• The average price change was -1.6%

3. Marijuana-Infused Products Category:

• The category consists of companies focused on developing and selling marijuana-infused products and companies focused on the extraction of cannabis compounds and their infusion into consumer products.
• The constituents within this category performed as follows:
  • Cresco Labs Inc. (CRLBF) -7.8%
  • Neptune Wellness Solutions Inc. (NEPT) -3.8%
  • New Age Beverages Corporation (NBEV) -8.5%
• The average price change was -6.8%

4. Consumption Devices Category:

• The category consists of companies focused on developing and selling personal consumption devices for cannabis consumers such as vape pens and inhalers.
• The constituents within this category performed as follows:
  • AYR Strategies Inc. (AYRSF) -11.0%
  • Greenlane Holdings Inc. (GNLN) -8.1%
  • Pyxus International Inc. (PYX) -5.3%
• The average price change was -9.0%

5. Agricultural Technology Category:

• The category consists of companies focused on providing automated growing systems, greenhouses, farming products, nutrients, hydroponics, fertilization systems, horticultural expertise, LED/lighting technologies, air filtration systems, and climate control and energy efficiency systems.
• The constituents within this category performed as follows:
  • GrowGeneration Corp. (GRWG) -3.0%
  • Village Farms International Inc. (VFF) -5.9%
• The average price change was -4.2%

6. Real Estate Category:

• The category consists of investment companies and REITs that develop, own, and/or lease commercial real estate properties to licensed cannabis operators.
• The only stock in this category eligible for the NPSI performed as follows:
  • Innovative Industrial Properties Inc. (IIPR) -4.2%

7. Business Services/Consulting Category:

• The category consists of companies that provide professional services such as branding, packaging, bottling, compliance, physical security, transportation, lab testing, distribution, and insurance. consulting and other business services directly to marijuana cultivators and retailers.
• The only stock in this category eligible for the NPSI performed as follows:
  • Medicine Man Technologies Inc. - now trading as Schwazze (SHWZ) -4.6%

8. Technology & Media Category:

• The category covers companies that provide delivery services, enterprise software, e-commerce platforms, communication and mapping services, and trading platforms and companies that provide marijuana-related media including news, content, social networks, games, and entertainment.
• The only stock in this category eligible for the NPSI performed as follows:
  • Akerna Corp. (KERN) -12.7%

9. Hemp Products Category:

• The category consists of companies that produce and sell hemp products.
• The only stock in this category eligible for the NPSI performed as follows:
  • Charlotte's Web Holdings Inc. (CWBHF) -6.4%

The NPSI no longer includes Hexo (HEXO) and Aurora (ACB) as their stock prices have fallen below US$1/share, but they are worthy of mention and were -4.0% and -5.0%, respectively.

In summary:

Of the 35 eligible stocks in the NPSI,

• 33 (94%) went UP,
• 1 (3%) was N/C
• 1 (3%) went DOWN 
• the average price change was -3.9%

The average return for the two broadest tracking indexes for the industry as a whole was -5.0%; the average return for the 4 marijuana ETFs that make up the broadest range of pot stocks was -4.0% while the S&P 500 was -2.8%, the Dow was -2.6%, the Nasdaq was -3.2% and the TSX was -1.1%.

Summary Of Friday's NPSI Price Performance By Constituent

• 1 stock went UP: 
  • FSD Pharma (HUGE) +0.4%
• 1 stock had No Change:
  • Rubicon (ROMJF)
• 3 stocks went DOWN by 10% or more
  • Akerna (KERN) -12.7%;  
  • AYR (AYRSF) -11.0%;
  • Tilray Inc. (TLRY) -10.1%
• 15 stocks went DOWN between 5% and 9.9%
• 15 stocks went DOWN between 0.6% and 4.9%

Further details regarding the constituents of the new NPSI are as follows:

1. Price Range/Share

• 2 trade above US$20/share,
• 3 trade between US$10 and US$20/share,
• 6 trade between US$5 and US$10/share and
• 24 trade between US$1 and US$5/share. (The official definition of a "penny" stock is one that trades below US$5/share but, when it comes to pot stocks, that is where 88% of the total universe trades, so the more literal definition of stocks that trade for less than US$1/share is used.)

2. Market Cap/Constituent

• Large-Cap (+US$10B): 0
• Mid-Cap (US$2B to US$10B): 3
• Small-Cap (US$300M to US$2B): 11
• Micro-Cap (US$50M to US$300M): 17
• Nano-Cap (Less than US$50M): 4

To see how the new Non-penny Pot Stock Index (NPSI) has done on a daily and weekly basis for the past few months, visit my daily updates here.