E Cannabis Central: Canadian Producers Cheered By Democrat Majority In US

The munKNEE Pure-Play Pot Stock Index went up 19.9% during the first week of 2021 with only 1 of 30 constituents declining. 7 constituents went UP +30%, 8 went UP +20% and another 6 went UP +10%. This article provides the details of those moves.

(For more information on the reason(s) behind the changes outlined below you are urged to click on the stock symbols provided. All currency amounts are in U.S. dollars. Go here to convert to another currency.)

Index Performance

The criteria for being included in the Index is that the stock is consistently trading for a minimum of US$1/share and generates 100% of its revenue directly from the sale of cannabis products.

Federal marijuana legalization in the U.S. is required for Canadian Licensed Producer (LPs) companies to be able to do business in the country and as such the Canadian pot companies cheered the final election results when the Georgia runoff for the final two Senate seats went to the Democrats.

The Canadian Licensed Producer (LPs) Category went up 24.5% in the first week of January, 2021 with all 10 stocks within the category advancing, in descending order, as follows:

  1. Tilray (TLRY): +36.9% to $11.31/share
  2. Cronos (CRON): +30.5% to $9.06/share
  3. Hexo (HEXO): +30.4% to $4.80/share
  4. Valens (VLNCF): +29.2% to $1.68/share
  5. Organigram (OGI): +27.8% to $1.70/share
  6. Aphria (APHA): +23.8% to $8.57/share
  7. Canopy (CGC): +22.4% to $30.17/share
  8. Aurora (ACB): +19.1% to $9.90/share
  9. Neptune (NEPT): +17.9% to $1.84/share
  10. Rubicon (ROMJF): +0.4% to $2.80/share

The Democratic sweep makes Chuck Schumer the majority leader, which is expected to mean there will be a vote on legalization, and the MSOs have responded positively in a major way to that likelihood.

The U.SMulti-State Operator (MSOs) Category went up 22.1% the first week of 2021 with 18 of the 20 constituents advancing, 1 having N/C in price and 1 declining marginally (-4.3%), as follows:

1 2 3
View single page >> |

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. Users' ratings are only visible to themselves.


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