This past week saw the largest gains in 3 months for the equal-weighted, pure-play non-penny Pot Stock Index (NPSI) advancing 7.1% with 17 of 25 constituents going up and seven going down and one experiencing no change in price. 

The pot stock universe has 400+ cannabis-related securities listed on the various Canadian and American stock exchanges of which approx. 300 actively trade. Of those 300 stocks (i.e. 8%), however, only 25 are true marijuana stocks that trade for at least US$1/share and, as such, are included in the Non-penny Pot Stock Index.

Below are the price changes for the constituents that either advanced or declined by 5% or more on last week:

Major Winners

• 3 constituents went UP in excess of 15%, namely:
  • cbdMD (YCBD) + 22.6%
  • TerrAscend (TRSSF) +15.8%
  • Tilray (TLRY) +15.1%
• 4 constituents went UP between 10% and 14.9%, namely:
  • Trulieve (TCNNF) +14.1%
  • Green Thumb (GTBIF) +12.9%
  • Columbia (CCHWF) +11.5%
  • Curaleaf (CURLF) +10.0%
• 7 constituents went UP between 5% and 9.9%, namely:
  • Cresco (CRLBF) +9.3%
  • Rubicon (ROMJF) +8.8%
  • Neptune (NEPT) +8.7%
  • Village Farms (VFF) +7.1%
  • AYR (AYRSF) +6.9%
  • Canopy (CGC) +5.9%
  • Acreage (ACRGF) +5.6%

Three other constituents went up by less than 5%.

Major Losers

• 5 of the 7 constituents went DOWN by 5% or more, namely:
  • Valens (VLNCF) -14%
  • Medicine Man (SHWZ) -13.4%
  • Avicanna (AVCNF) -9.1%
  • Greenlane (GNLN) -7.9%
  • Organigram (OGI) -5.6%

The remaining two constituents went down by less than 5%.

Further details regarding the equal-weighted index are as follows:

• 4 constituents trade between US$10 and US$20/share,
• 5 trade between US$5 and US$10/share and
• 16 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 92% of the total universe trades, so the more literal definition of stocks that trade for less than US$1/share is used.

The market capitalization makeup of the NPSI (calculated by multiplying the number of a company's shares outstanding by its stock price per share) consists of:

• Large-Cap (+US$10B): 0
• Mid-Cap (US$2B to US$10B): 4
• Small-Cap (US$300M to US$2B): 9
• Micro-Cap (US$50M to US$300M): 11
• Nano-Cap (<US$50M): 1

and averages US$962.8M for all 25 constituents.

In addition, the constituents operate in 3 categories based on their primary area of focus in the cannabis industry and the constituents within each category are identified below with how each of the categories did last week:

1. The Vertically Integrated (i.e. Seed-to-Sale) Category consists of 22 companies that grow, process, and sell cannabis and hemp flower and related products and it advanced 6.8% during the week.
   • the 8 constituents that are Canadian Licensed Producers (LPs) advanced by just 0.4%
     • ACB; APHA; CGC; CRON; OGI; ROMJF; TLRY and VFF
   • the 11 constituents that are American Multi-State Operators (MSOs) advanced by 9.8%
     • ACRGF; AYRSF; CCHWF; CRLBF; CURLF; GTBIF; JUSHF; PLNHF; SHWZ; TRSSF and TCNNF
   • the 3 constituents that are only involved in the seed-to-sale of CBD from hemp advanced by 5.0%
     • AVCNF; CWBHF and YCBD
2. The Extraction Category consists of companies focused on the extraction of cannabis compounds and their infusion into consumer products and it was unchanged for the week.
   • the 2 constituents in this category are NEPT and VLNCF
3. The Consumption Devices Category consists of companies focused on developing and selling personal consumption devices for cannabis consumers such as vape pens and inhalers and it declined 6.0% during the week.
   • the 1 constituent in this category is GNLN

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