E Cannabis Central: Pure-Play Pot Stock Index Down Yet Again On Wednesday

The munKNEE Pure-Play* Pot Stock Index was down 4.1% on Wednesday with only 2 of the 25 constituents advancing, 22 declinings, and 1 having no change in price. No constituent went UP 5% or more and 11 constituent went DOWN 5% or more. The details are as follows:

Index Performance

The Index has companies doing business in a number of different categories and sub-categories based on their primary area of focus in the cannabis industry. Those categories are identified below along with the index constituents within each category that went up or down by 5% or more:

  1. 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 went down 4.0%.
    • The Canadian Licensed Producer (LPs) Category has 7 index constituents and it went down 2.2% with 1 constituents going down in price by 5% or more, namely, Aphria (-5.5%).
    • The U.SMulti-State Operator (MSOs) Category has 13 index constituents and it went down 4.7% with 7 constituents going down by 5% or more, namely:
      1. TerrAscend (TRSSF) -6.4%
      2. Acreage Fixed Shares (ACRDF) -6.0%
      3. Cresco (CRLBF) -5.8%
      4. Planet 13 (PLNHF) -5.4%
      5. Trulieve (TCNNF) -5.2%
      6. Curaleaf (CURLF) -5.1%
      7. Green Thumb (GTBIF) -5.1%
    • The hemp seed-to-sale MSO sub-category has two index constituents and it went down 5.8% with both constituents going down by 5% or more, namely,
      1. Charlotte's Web (CWBHF) -6.3% and
      2. cbdMD (YCBD) -5.1% 
  2. The Extraction Category has two index constituents focused on the extraction of cannabis compounds and their infusion into consumer products and it went down 1.0% with neither constituent changing price by 5% or more.
  3. The Consumption Devices Category has only one index constituent focused on developing and selling personal consumption devices for cannabis consumers such as vape pens and inhalers, namely, Greenlane (GNLN), and it went down 8.1% in price.
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Adam Reynolds 11 months ago Member's comment

Seems like these stocks are all down. What's behind this trend?