Cannabis Central: Monday Was A Good Day For Pot Stocks - Finally
The munKNEE.com Pure-Play* Pot Stock Index of the 25 pure-play cannabis stocks that trade for more than US$1/share went UP 2.7% on Monday. 14 of the constituents advanced as did 2 of the 3 categories. Details are as follows:
Monday's Index Performance
- 5 stocks went UP by more than 5%, namely:
- 9 stocks went DOWN on the day (2 had No Change in price) but none did so by 5% or more.
The 25 munKNEE Pure-Play* Pot Stock Index includes companies doing business in 3 different 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 index that make up each category:
- The Vertically Integrated (i.e. Seed-to-Sale) Category has 22 index constituents that grow, process, and sell cannabis and hemp flower and related products and it was UP 2.8%.
- the 7 Canadian Licensed Producer (LPs) index constituents (ACB; APHA; CGC; CRON; OGI; ROMJF and TLRY) went UP 6.8%, on average.
- the 13 U.S. Multi-State Operator (MSOs) index constituents (ACRDF; ACRHF; AYRSF; CCHWF; CRLBF; CURLF; GTBIF; HRVSF; JUSHF; PLNHF; SHWZ; TCNNF and TRSSF) went UP 1.0%, on average.
- the 2 hemp seed-to-sale MSO index constituents (CWBHF and YCBD) had No Change in price.
- The Extraction Category has 2 index constituents (NEPT and VLNCF) focused on the extraction of cannabis compounds and their infusion into consumer products and they went UP 2.8%.
- The Consumption Devices Category has only 1 index constituent (GNLN) focused on developing and selling personal consumption devices for cannabis consumers such as vape pens and inhalers and it went DOWN 2.5%.
Index Adjustment Effective Oct 1, 2020:
- Avicanna was removed as it no longer was trading consistently above US$1/share.
- The exclusion of Avicanna necessitated the removal of the Biotech Category.
- Acreage Holdings replaced its sole stock listing (ACRGF) with a Fixed symbol (ACRDF) and a Floating symbol (ACRHF).
*Please note: The 25 pure-play stocks in the munKNEE 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 and, as such, it reflects the true health of the marijuana industry in the U.S. and Canada.
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Interesting news. Patience is rewarded, and the stocks have started climbing again. New interest in the sector because of a new month? Possibly, or else some other explanation.
I point out that an examination of the graphs of stock prices over the past many years reveals very few smoothly ascending curves. This new area will probably not be any different.