E Cannabis Central: The Pure-Play Pot Stock Index Moved Up On Monday

The munKNEE Pure-Play Pot Stock Index went UP 1.1% on Monday.14 of the 25 constituents went UP, 9 went DOWN and 2 were unchanged. 2 of the 3 index categories also went UP. The winners and losers are as follows:

Index Performance

Further details regarding the equal-weighted munKNEE Pure-Play Pot Stock Index (PPSI) are as follows:

  • *The 25 pure-play constituents in the PPSI are just that, pure, deriving 100% of their revenue from the sale of cannabis or cannabis-related products. Unlike every marijuana ETF (see this TalkMarkets article) and every other cannabis tracking index (see this TalkMarkets article), the PPSI 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. As such, the following companies, while trading well above the minimum Index listing criteria of US$1/share are excluded: GW Pharmaceuticals (GWPH), Abbvie, (ABBV), Arena Pharmaceuticals (ARNA), GrowGeneration (GRWG), Scotts Miracle-Gro (SMG), Innovative Industrial Properties REIT (IIPR), New Age Beverages (NBEV), Alcanna (LQSIF), and Alkerna (KERN).
  • The average market capitalization of the munKNEE PPSI is US$963M.
  • The 25 constituents in the Index operate in 3 categories based on their primary area of focus in the cannabis industry and the constituents within each category are identified below with how each of the categories did along with those stocks within each category that changed price by 5% or more:
  1. The Vertically Integrated (i.e. Seed-to-Sale) Category went up 1.3%. The category consists of  22 index constituents that grow, process, and sell cannabis and hemp flower and related products.
    1. The Canadian Licensed Producer (LPs) Sub-Category went up 1.3but only one of the 7 index constituents within the category changed prices by 5% or more, namely, 
      • Tilray (TLRY) -9.2%.
    2. The U.SNon-Hemp Multi-State Operator (MSOs) Sub-Category went up 1.1but none of the 13 index constituents in the category changed price by 5% or more.
    3. The Hemp Seed-to-Sale MSO Sub-Category went up 4.4with one of the index constituents in the category changing in price by 5% or more, namely, 
      • cbdMD (YCBD) +6.1%.
  2. The Extraction Category went down 5.9%, This category focuses on the extraction of cannabis compounds and their infusion into consumer products, and 1 of the 2 index constituents within the category changed price by 5% or more, namely, 
    • Valens (VLNCF) +6.8%.
  3. The Consumption Devices Category went up 0.4%. 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.
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