E Cannabis Central: Pot Stock Sub-Index Components Continue Decline

The Canadian Licensed Producer (LP) component of the munKNEE Pure-Play Pot Stock Index has 9 constituents and they continued to decline across the board this past week ranging from -0.7% to -11.9% and averaging a full -8.6% drop on top of a -14.5% drop the previous week. 

LP Pure-Play Pot Stock Index Performance

The constituent declines last week were as follows, in descending order:

  1. Valens (VLNCF): -0.7% to $1.36/share 
    • Entered into an extraction and custom manufacturing agreement with Rubicon Organics.
    • Closed the acquisition of LYF Food Technologies Inc. for CDN$24.9 million payable on closing, plus approximately CDN$17.5 million in post-closing consideration subject to achieving certain earn-out EBITDA milestones. With this acquisition of LYF, Valens has accelerated its footprint in the edibles category, which is one of the fastest-growing segments of the Cannabis 2.0 and 3.0 markets.
  2. Rubicon (ROMJF-4.4% to $2.40/share 
    • Entered into an agreement with The Valens Company to provide organic certified extraction services.
  3. Canopy (CGC): -4.8% to $31.17/share
    • Entered the high-potential U.S. CBD beverage category with the launch of Quatreau, a premium ready-to-drink CBD-infused sparkling water. The stateside launch follows the successful 2020 rollout of Canopy Growth's CBD-infused beverages in Canada , where Quatreau is now the top-selling ready-to-drink CBD beverage.
  4. Hexo (HEXO): -8.2% to $6.42/share
    • Announced plans to release its financial results for the fiscal second quarter 2021, before market hours on March 18, 2021, as well as host a webcast for investors beginning at 8:30 a.m. EST.
  5. Aurora (ACB): -8.7% to $9.60/share 
    • No news of note
  6. Cronos (CRON): -9.5% to $9.48/share 
    • The stock is still reacting negatively to its recent Q4 financial results (see here) which reported a net loss of $112 million, or $0.31 per share, compared to the prior-year profit of $61.6 million and Q3 results which showed a net income of $68.5 million.
  7. Tilray (TLRY): -11.2% to $21.63/share
    • Q4 financial results (see here)
    • 12 analysts on Yahoo Finance have forecast price targets ranging from zero to $24.20 with an average price target of $10.97 per share
  8. Organigram (OGI): -11.6% to $2.68/share
    • Announced the launch of two new additions to the Company’s recreational cannabis product portfolio: SHRED Tropic Thunder Jar of Joints and Trailblazer SNAX Milk Chocolate Bars.
  9. Aphria (APHA): -11.9% to $15.71/share
    • Stifel analyst Andrew Carter increased the stock’s target price to $15.50, up from $9.80, and maintained a neutral rating on it.
1 2
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.


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