Cannabis Central: Most Stocks In Pure-Play Portfolio Decline On Thursday
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 went DOWN 1.3% on Thursday with only 7 stocks going UP. 15 stocks went DOWN while 50% of the industry categories in which they operate going DOWN as well. The details are as follows:
Thursday's Major Winners and Losers
- No stocks advanced by 5% or more. OrganiGram (OGI) performed the best performer UP just 3.7%
- Only 1 stock declined by 5% or more, namely, Ayr Strategies (AYRSF) DOWN 5.6%
The 25 munKNEE.com Pure-Play Pot Stock Portfolio includes companies 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:
- 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 1.3%, on average.
- the 7 Canadian Licensed Producer (LPs) portfolio participants (ACB; APHA; CGC; CRON; OGI; ROMJF and TLRY) went DOWN 0.1%, on average.
- the 12 U.S. Multi-State Operator (MSOs) portfolio participants (ACRGF; AYRSF; CCHWF; CRLBF; CURLF; GTBIF; HRVSF; JUSHF; PLNHF; SHWZ; TCNNF and TRSSF) went DOWN 2.0%, on average.
- the 2 hemp seed-to-sale MSO portfolio participants (CWBHF and YCBD) went DOWN 0.8%, on average.
- 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 2.0%, on average.
- 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 1.2% in price.
- The Biotechnology Category has only 1 portfolio participant (AVCNF) which markets new drugs utilizing cannabinoids (CBD) and it went UP 1.1%.
*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 and, as such, it reflects the true health of the marijuana industry in the U.S. and Canada.
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My conclusion would be that stock prices will vary along with enthusiasm and distractions that are not at all related to the stocks in consideration.. Notice that almost all of the charts showing share prices are not smooth curves. Why should this group expect to be any different?
Thanks for an informative article.