E Cannabis Central: Pure-Play Pot Stock Index Reversed Direction Again On Wednesday

The munKNEE Pure-Play* Pot Stock Index went UP 3.2% on Wednesday. 18 of the 25 constituents went UP and 7 went DOWN in price. In addition, all 3 of the index categories also went UP. The winners and losers are as follows:

Index Performance

The constituents in the Index 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 along with those stocks within each category that changed price by 5% or more:

  1. The Vertically Integrated (i.e. Seed-to-Sale) Category went up 2.3% (vs. -3.3on Tuesday). The category consists of  22 index constituents that grow, process, and sell cannabis and hemp flower and related products.
    1. The Canadian Licensed Producer (LPs) Sub-Category went up 6.5% (vs. -9.1% on Tuesday) 5 of the 7 index constituents within the category changed prices by 5% or more, as follows: 
      1. Aurora (ACB) +12.3%  vs.-16.5% on Tuesday
      2. Organigram (OGI) +9.4% vs. -9.2% on Tuesday
      3. Aphria (APHA) +8.5%  vs. -8.7% on Tuesday
      4. Tilray (TLRY) +7.1%  vs. -10.7% on Tuesday
      5. Canopy Growth (CGC) +5.7%  vs. -7.5% on Tuesday
    2. The U.SNon-Hemp Multi-State Operator (MSOs) Sub-Category had No Change in price with only 1 of the 13 index constituents in the category changing price by 5% or more, namely:
      1. Medicine Man (SHWZ) -5.2% on top of -6.8% on Tuesday
    3. The Hemp Seed-to-Sale MSO Sub-Category went up 5.5% vs. -7.3% on Tuesday with one of the two index constituents in the category changing in price by 5% or more, namely:
      1. Charlotte's Web (CWBHF) +6.8%  vs. -6.9% on Tuesday
  2. The Extraction Category went up 1.6% vs. -0.4% on Tuesday. This category focuses on the extraction of cannabis compounds and their infusion into consumer products, but neither of the 2 index constituents within the category changed price by 5% or more,
  3. The Consumption Devices Category went up 8.6% vs -0.5% on Tuesday. This category has only one index constituent, Greenlane   (GNLN), which is focused on developing and selling personal consumption devices for cannabis consumers, such as vape pens and inhalers.
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William K. 1 month ago Member's comment

What I am learning from these articles is that "niche" portfolios thend to have most of their components perform in a similar manner. That is sort of what I would expect, and so it is interesting to see that it appears to actually work that way.