Cannabis Central: Pot Stock Index Down 2.5% This Week
The munKNEE Pure-Play Pot Stock Index continued to weaken this week going down -2.5% compared to -1.5% last week and +25.1% the week before that. 14 of the 25 constituents declined, eight advanced and two had No Change in price.
Index Performance
There were no recaps of the munKNEE Pure-Play Pot Stock Index this past week as the Index was more or less flat during the week as follows: Monday (+0.2%), Tuesday (+0.4), Wednesday (-0.6%), Thursday (-0.5%) and -2.2% on Friday.
The Index has companies doing business in a number of categories and sub-categories based on their primary area of focus in the cannabis industry. These categories are identified below along with those stocks within each category that changed price by 5% (normally by 10%), or more, as follows:
- The Vertically Integrated (i.e. Seed-to-Sale) Category went down 3.2%. The category consists of 22 index constituents that grow, process, and sell cannabis and hemp flower and related products.
- The Canadian Licensed Producer (LPs) Sub-Category went down 1.0%. Two of the seven index constituents within the category changed prices by 5%, or more, namely:
- The non-hemp U.S. Multi-State Operator (MSOs) Sub-Category went down 3.3%. Seven of the 13 index constituents changed price by 5%, or more, namely:
- The Hemp Seed-to-Sale MSO Sub-Category went down 1.6% and one of the two index constituents in the category changed price by 5%, or more, namely:
- cbdMD (YCBD) -7.8%
- The Extraction Category went down 9.5%. This category focuses on the extraction of cannabis compounds and their infusion into consumer products, and both of the index constituents within the category changed price by 5%, or more, namely,
- The Consumption Devices Category went up 1.1%. This category has only one index constituent, Greenlane (GNLN), focused on developing and selling personal consumption devices for cannabis consumers, such as vape pens and inhalers.
*Please note: The 25 pure-play stocks in the munKNEE.com Pure-Play Pot Stock Index are just that, pure, deriving 100% of their revenue from the sale of recreational and medicinal cannabis and consumption-related products and, as such, the Index reflects the true health of the marijuana industry in the U.S. and Canada. In addition, the Index only includes those pure-play cannabis stocks that consistently trade for more than US$1/share.
Visit munKNEE.com and register to receive our free Market Intelligence Report newsletter (sample more