The NPSI (Non-penny Pot Stock Index) tracks the 35 cannabis stocks that trade for a minimum of US$1/share (representing 12% of the universe of 299 companies) and advanced 3.2% on Friday. Below are the price performances of each constituent within each of the 9 categories that represent their primary area of focus in the cannabis industry.

Before proceeding let's put things in perspective:

1. Of the 35 eligible stocks in the NPSI,
   • 29 (83%) went up,
   • 2 (6%) remained unchanged,
   • 4 (11%) went down in price and
   • the average price change was +3.1%;
2. the average return for the 3 broadest tracking indexes for the industry as a whole was +2.8%,
3. the average return for the 5 marijuana ETFs that make up the broadest range of pot stocks was +3.1%. The average MER of 0.7% resulted a net decline of +2.4% and
4. the S&P 500 was up 2.7%, the TSX was up 3.3%, the Dow was up 3.0% and the Nasdaq was up 1.4%.

The performance of the NPSI constituents are presented below within each of the 9 categories to allow for performance comparisons within similar areas of focus:

1. Cultivation & Retail Category:
   • category consists of companies that grow and sell cannabis flower and related products.
   • The constituents within this category performed as follows:
     1. FSD Pharma Inc. (HUGE) +10.4%
     2. Planet 13 Holdings Inc. (PLNHF) +8.4%
     3. Organigram Holdings Inc. (OGI) +5.3%
     4. Alcanna Inc. (LQSIF) +5.2%
     5. MediPharm Labs Corp. (MEDIF) +5.1%
     6. TerrAscend Corp. (TRSSF) +4.7%
     7. Canopy Growth Corporation (CGC) +4.4%
     8. Rubicon Organics Inc. (ROMJF) +4.2%
     9. Cronos Group Inc. (CRON) +3.2%
     10. Green Thumb Industries Inc. (GTBIF) +2.4% 
     11. Tilray Inc. (TLRY) +2.0%
     12. Trulieve Cannabis Corp. (TCNNF) +1.8%
     13. Curaleaf Holdings Inc. (CURLF) +1.7%
     14. Columbia Care Inc. (CCHWF) +0.9%
     15. Aphria Inc. (APHA) +0.8%
     16. Acreage Holdings Inc. (ACRGF) +/-0.0%
     17. Valens GroWorks Corp. (VLNCF) -3.9% 
   • The average price change was 3.2%
2. Biotechnology Category:
   • category consists of pharmaceutical companies focused on R&D of new drugs and products utilizing cannabinoids.
   • The constituents within this category performed as follows:
     1. Corbus Pharmaceuticals Holdings Inc. (CRBP) +5.7%
     2. GW Pharmaceuticals Plc (GWPH) +5.1%
     3. Cara Therapeutics Inc. (CARA) +4.0%
     4. Zynerba Pharmaceuticals Inc. (ZYNE) +2.8%
     5. XPhyto Therapeutics Corp. (XPHYF) +/-0.0%
     6. Abacus Health Products Inc. (ABAHF) -2.3%
   • The average price change was +4.7%
3. Marijuana-Infused Products Category:
   • category consists of companies focused on developing and selling marijuana-infused products and companies focused on the extraction of cannabis compounds and their infusion into consumer products.
   • The constituents within this category performed as follows:
     1. Neptune Wellness Solutions Inc. (NEPT) +10.2%
     2. Cresco Labs Inc. (CRLBF) +9.7%
     3. New Age Beverages Corporation (NBEV) +7.4%
   • The average price change was +9.3%
4. Consumption Devices Category:
   • category consists of companies focused on developing and selling personal consumption devices for cannabis consumers such as vape pens and inhalers.
   • The constituents within this category performed as follows:
     1. Greenlane Holdings Inc. (GNLN) +6.3%
     2. Pyxus International Inc. (PYX) +5.0%
     3. AYR Strategies Inc. (AYRSF) -1.8%
   • The average price change was +1.6%
5. Agricultural Technology Category:
   • category consists of companies focused on providing automated growing systems, greenhouses, farming products, nutrients, hydroponics, fertilization systems, horticultural expertise, LED/lighting technologies, air filtration systems, and climate control and energy efficiency systems.
   • The constituents within this category performed as follows:
     1. Village Farms International Inc. (VFF) +7.8%
     2. GrowGeneration Corp. (GRWG) -0.9%
   • The average price change was +2.4%
6. Real Estate Category:
   • category consists of investment companies and REITs that develop, own, and/or lease commercial real estate properties to licensed cannabis operators.
   • The only stock in this category eligible for the NPSI performed as follows:
     1. Innovative Industrial Properties Inc. (IIPR) +0.4%
7. Business Services/Consulting Category:
   • category consists of companies that provide professional services such as branding, packaging, bottling, compliance, physical security, transportation, lab testing, distribution, and insurance. consulting and other business services directly to marijuana cultivators and retailers.
   • The only stock in this category eligible for the NPSI performed as follows:
     1. Medicine Man Technologies Inc. (MDCL) +1.2%
8. Technology & Media Category:
   • category covers companies that provide delivery services, enterprise software, e-commerce platforms, communication and mapping services, and trading platforms and companies that provide marijuana-related media including news, content, social networks, games, and entertainment.
   • The only stock in this category eligible for the NPSI performed as follows:
     1. Akerna Corp. (KERN) +2.1%
9. Hemp Products Category:
   • category consists of companies that produce and sell hemp products.
   • The only stock in this category eligible for the NPSI performed as follows:
     1. Charlotte's Web Holdings Inc. (CWBHF) +1.0%

Further details regarding the constituents of the new NPSI are as follows:

• 2 trade above US$20/share,
• 2 trade between US$10 and US$20/share,
• 9 trade between US$5 and US$10/share and
• 22 trade between US$1 and US$5/share. (The official definition of a "penny" stock is one that trades below US$5/share but, when it comes to pot stocks, that is where 88% of the total universe trades, so the more literal definition of stocks that trade for less than US$1/share is used.)

The NPSI no longer includes Hexo (HEXO) and Aurora (ACB) as their stock prices have fallen below US$1/share but they are worthy of mention and were up 0% and 3.2%, respectively, on Friday.

In addition, the market capitalization makeup of the NPSI, calculated by multiplying the number of a company's shares outstanding by its stock price per share, is as follows:

• Large-Cap (+US$10B): 0
• Mid-Cap (US$2B to US$10B): 3
• Small-Cap (US$300M to US$2B): 11
• Micro-Cap (US$50M to US$300M): 18
• Nano-Cap (Less than US$50M): 3

To see how the new Non-penny Pot Stock Index (NPSI) has done on a daily and weekly basis for the past month, visit my daily updates here.