Cannabis Central: Pure-Play Pot Stock Portfolio Down Again On Tuesday
The munKNEE.com Pure-Play Pot Stock Portfolio consists of the 25 pure-play* cannabis stocks that trade for more than US$1/share and it declined 2.7% on Tuesday with 20 (80%) of the stocks in the portfolio going DOWN as well as all 4 of the industry categories in which they operate. The details are as follows:
Major Winners
Only 1 stock advanced by 5% or more, namely:
- Medicine Man (SHWZ) +6.0%
3 other stocks went up by less than 5% and 1 stock had no change in price.
Major Losers
5 stocks declined by 5% or more, namely:
- Aurora (ACB) -11.6% (in response to preliminary fiscal Q4 numbers)
- Avicanna (AVCNF) -7.6% (in response to announcement that it has been asked to amended and refile its interim Q2 financial statements.)
- Planet 13 (PLNHF) -5.3% (in continued response to its terrible Q2 fiscal numbers (see here)
- Acreage (ACRGF) -5.2%
- Neptune (NEPT) -5.1%
15 other stocks declined by less than 5% in price.
The 25 munKNEE.com Pure-Play Pot Stock Portfolio includes companies doing business in 4 categories based on their primary area of focus in the cannabis industry. The categories are identified below with how they performed given the performance of the stocks in the portfolio that make up each category:
- The Vertically Integrated (i.e. Seed-to-Sale) Category has 21 portfolio participants that grow, process, and sell cannabis and hemp flower and related products and they went DOWN 1.3%, on average.
- the 7 Canadian Licensed Producer (LPs) portfolio participants (ACB; APHA; CGC; CRON; OGI; ROMJF and TLRY) went DOWN 5.0 %, on average.
- the 12 U.S. Multi-State Operator (MSOs) portfolio participants (ACRGF; AYRSF; CCHWF; CRLBF; CURLF; GTBIF; HRVSF; JUSHF; PLNHF; SHWZ; TCNNF and TRSSF) went DOWN 1.3%, on average.
- the 2 hemp seed-to-sale MSO portfolio participants (CWBHF and YCBD) went DOWN 1.3%, on average.
- The Extraction Category has 2 portfolio participants (NEPT and VLNCF) focused on the extraction of cannabis compounds and their infusion into consumer products and they went DOWN 4.3%, on average.
- The Consumption Devices Category has only 1 portfolio participant (GNLN) focused on developing and selling personal consumption devices for cannabis consumers such as vape pens and inhalers and it went DOWN 1.1% in price.
- The Biotechnology Category has only 1 portfolio participant (AVCNF) which markets new drugs utilizing cannabinoids (CBD) and it went DOWN 7.6%.
*Please note: The 25 pure-play stocks in the munKNEE.com Pure-Play Pot Stock Portfolio are just that, pure, deriving 100% of their revenue from the sale of recreational and medicinal cannabis and consumption-related products and, as such, it reflects the true health of the marijuana industry in the U.S. and Canada.
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In the Cannabis Corner it is not likely to go higher every day. (Bad Pun there), and certainly hoping to live on the momentary short term peaks will be very stressful. Given that prior performance is an indication of skill, confidence remains.