E Cannabis Central Pure-Play Pot Stock Indices: -9% Last Week; Still +15% YTD

munKNEE.com tracks the performance of four (4) cannabis and cannabis-related pot stock categories which provides the clearest overview of the cannabis stock sector that is available anywhere. Below is a comparison of how each sub-category performed during the first three weeks of June and YTD, and in total.

  1. The Ancillary Pot Stock Index of 8 constituents tracks the performance of companies that provide goods and services to cannabis operators and have a Market Capitalization of at least US$100M.
    • It was -5.0% during the first three weeks of June and is now +28.4% YTD with an average Beta of 2.2 and an average Market Capitalization of US$3.2B.
    • Its constituents are: Scotts Miracle-Gro (SMG), Innovative REIT (IIPR), Grow Generation (GRWG), Hydrofarm (HYFM), Turning Point (TPB), Village Farms (VFF), Forian (FORA) and AFC Gamma (AFCG).
  2. The Cannabis-Centric BioPharma Stock Index of 9 constituents tracks the stock performance of those clinical-stage biopharmaceutical companies involved in the exclusive development of drugs using CBD and THC that also have a Market Capitalization of US$50M or more.
    • It was -5.4% during the first three weeks of June and is now +8.2% YTD with an average Beta of 2.9 and an average Market Capitalization of US$109M.
    • Its constituents are: Corbus (CRBP), Zynerba (ZYNE), MGC (MGCLF), Revive (RVVTF), Zelira (ZLDAF), Tetra Bio (TBPMF), KetamineOne (MEDI), HighBrid Lab (TRIP) and Enveric (ENVB).
  3. The Canadian Pure-Play Licensed Producers Pot Stock Index of 6 constituents tracks the performance of those Canadian producers that derive 100% of their revenue from the marijuana sector, trade for at least US$1/share and have a Market Capitalization of at least US$100M.
    • It was -8.7% during the first three weeks of June and is now +23.3% YTD with an average Beta of 2.11 and an average Market Capitalization of US$3.6B.
    • Its constituents are: Canopy (CGC), Tilray (TLRY), Cronos (CRON), Aurora (ACB), Organigram (OGI) and Hexo (HEXO).
      • Hexo was down 20.9% during the week based on extremely disappointing Q3 financials (see here) which reported a -31% in net revenue, a -52% in gross profit and a negative EBITDA.
      • Canopy suffered a hangover this past week declining a further 11.9% as a result of its Q4 financials (see here) which showed a $616M net loss during the quarter.
  4. The American Pure-Play Multi-State Operators Pot Stock Index of 17 constituents tracks the performance of those multi-state marijuana companies that derive 100% of their revenue from the sector, trade for at least US$1/share and have a Market Capitalization in excess of US$100M.
    • It was -8.9% during the first three weeks of June and is now +11.9% YTD with an average Beta of 2.69 and an average Market Capitalization of US$227M.
    • Its constituents are: Curaleaf (CURLF), Green Thumb (GTBIF), Trulieve (TRSSF), Verano (VRNOF), Cresco (CRLBF), TerrAscend (TRSSF), Columbia (CCHWF), Harvest Health (HRVSF), Ascend (AAHW), Planet 13 (PLNHF), Ayr (AYRWF), Jushi (JUSHF), 4 Front (FFNTF), Charlotte's Web (CWBHF), Gage (GAGE), Goodness Growth (GDNSF) and Acreage (ACRDF & ACRHF).
    • 15 of the 17 constituents declined last week with 7 declining in excess of 10%, namely:
      • Goodness Growth: -18.0% on general category weakness
      • Columbia Care: -17.4% with the announcement that it would be acquiring Denver-area dispensary chain Medicine Man in a $42M deal which is expected to close in Q4.
      • Acreage: -17.3% with the announcement that it had sold the $28 million in promissory notes it had received from Red White and Bloom Brands (as consideration for the previously announced sale of its Acreage Florida subsidiary to RWBYF) to Viridescent Realty Trust Inc. for $26 million in total cash proceeds, which is in the upper range of the estimated fair market value of the notes.
      • Charlotte's Web (-16.6%); Cresco (-15.2%); Verano (-14.5%) and Ayr Wellness (-13.5%) were each down on general category weakness.
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