E Cannabis Central: Pure-Play Pot Stock Index Up 5.6% On Monday

The munKNEE.com pure-play* Pot Stock Index (PSI) of cannabis stocks that trade for more than US$1/share was up 5.6% on Monday. 19 of the 25 constituents advanced, 3 declined, 3 experienced no change in price, and 2 of the 3 associated sector categories advanced as well. The details are as follows:

Biggest Winners

  • 10 constituents went UP 5%, or more, namely:
    1. Trulieve (TCNNF) +14.4%
      • announced that it had partnered with Connective Human, for their TruVet Program, throughout the month of August, to inform veterans regarding the accessibility, benefits, and uses of medicinal cannabis.
    2. Canopy Growth (CGC) +7.8%
      • released their Q1 financial results today. See TalkMarkets article here
    3. Charlotte's Web (CWBHF) +7.5%
    4. cbdMD (YCBD) +7.4%
    5. Cresco (CRLBF) +6.9%
    6. Tilray (TLRY) +6.8%
    7. Valens (VLNCF) +6.1%
    8. Village Farms (VFF +5.9%
    9. Organigram (OGI) +5.5%
    10. Curaleaf (CURLF) +5.0%
  • 9 other constituents went UP by less than 5%.
  • 3 constituents had no change in price.

Losers

  • 3 constituents went DOWN, on average, by 0.9%.

Further details regarding the equal-weighted Pot Stock Index are as follows:

1. *The 25 pure-play constituents in the munKNEE.com PSI are just that - pure - deriving 100% of their revenue from the sale of cannabis or cannabis-related products. As such, unlike every marijuana ETF (see this TalkMarkets article) and every other cannabis tracking index (see this TalkMarkets article), the PSI  excludes  "wanna-be" companies that generate little, if any, of their total revenue from the cannabis industry so as to reflect the true health of the marijuana industry in the U.S. and Canada. Such excluded companies are GW Pharmaceuticals (GWPH), Arena Pharmaceuticals (ARNA), Abbvie, (ABBV), GrowGeneration (GRWG), Scotts Miracle-Gro (SMG), Innovative Industrial Properties REIT (IIPR), New Age Beverages (NBEV), Alcanna (LQSIF) and Alkerna (KERN).

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