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After rising the previous two weeks (see here) following the reintroduction of the long-awaited bipartisan banking bill, the Secure and Fair Enforcement (SAFE) Banking Act, which has the goal of offering crucial banking and financial services to legitimate marijuana businesses while also protecting banks that collaborate with them from federal backlash, the American multi-state operators (MSOs) have taken back their gains.

The 7 constituents in the munKNEE American Cannabis MSOs Index are ranked below, in descending order, as to their stock performances so far this week compared to their price closes for the week last Friday, as follows:

1. Verano (VRNOF): DOWN 5.9% so far this week; UP 7.7% last week 
   • 13 analysts:
   • have an average Wall Street analyst 12-month price target representing a 231.1% increase from its current price and
   • have a consensus STRONG BUY rating.
   • In addition, VRNOF has:
     • a 64% chance of Financial Distress within 2 years,
     • a NIL Short Interest,
     • only a 2.1% Insider Ownership and
     • a Market Cap of $1.1B.
2. Columbia Care (CCHWF): DOWN 6.8% so far this week; DOWN 4.1% last week   
   • 2 analysts:
   • have an average 12-month price target representing a 800.0% increase from its current price and
   • have a consensus STRONG BUY rating.
   • In addition, CCHWF has:
     • a 72% chance of Financial Distress within 2 years,
     • a NIL Short Interest,
     • a 17.9% Insider Ownership and
     • a Market Cap of $185M.
3. TerrAscend (TRSSF): DOWN 8.7% so far this week; UP 8.9% last week   
   • 11 analysts:
   • have an average 12-month price target representing a 73.7% increase from its current price and
   • have a consensus BUY rating.
   • In addition, TRSSF has:
     • a 64% chance of Financial Distress within 2 years,
     • a NIL Short Interest (the number of shorted shares divided by the number of shares outstanding),
     • only a 6.6% Insider Ownership (directors and senior officers or other beneficial holders with 10% or more of the common shares) and
     • a Market Cap of $613M.
4. Cresco Labs (CRLBF): DOWN 10.7% so far this week; UP 7.7% last week   
   • 12 analysts:
   • have an average 12-month price target representing a 266.7% increase from its current price and
   • have a consensus BUY rating.
   • In addition, CRLBF has:
     • a 76% chance of Financial Distress within 2 years,
     • a NIL Short Interest,
     • a 22.1% Insider Ownership and
     • a Market Cap of $662M.
5. Curaleaf (CURLF): DOWN 12.5% so far this week; UP 9.4% last week   
   • 20 analysts:
   • have an average 12-month price target representing a 342.0% increase from its current price and
   • have a consensus STRONG BUY rating.
   • In addition, CURLF has:
     • a 39% chance of Financial Distress within 2 years,
     • a NIL Short Interest,
     • a 38.9% Insider Ownership and
     • a Market Cap of $1.9B
6. Green Thumb (GTBIF): DOWN 16.7% so far this week; UP 20.0% last week 
   • 21 analysts:
   • have an average 12-month price target representing a 170.3% increase from its current price and
   • have a consensus STRONG BUY rating.
   • In addition, GTBIF has:
     • a 10% chance of Financial Distress within 2 years,
     • a NIL Short Interest,
     • a 14.3% Insider Ownership and
     • a Market Cap of $1.9B.
7. Trulieve (TCNNF): DOWN 19.2% so far this week; UP 7.4% last week 
   • 19 analysts:
   • have an average 12-month price target representing a 292.5% increase from its current price and
   • have a consensus STRONG BUY rating.
   • In addition, TCNNF has:
     • a 69% chance of Financial Distress within 2 years,
     • a NIL Short Interest,
     • a 18.7% Insider Ownership and
     • a Market Cap of $973M.

In total, the sum total of the above 7 constituents in the munKNEE American Cannabis MSOs Index:

• is DOWN 14.2% so far this week after having gone UP 11.7% the previous week. That compares with the munKNEE Canadian Cannabis LPs Index (see here) which is DOWN 10.0% so far this week compared to going UP 10.3% from the previous week and
• has an average 12-month price target representing a 236.7% increase from their average May 11th prices compared to the 5 constituents in the munKNEE Canadian Cannabis LPs Index which have a forward price target representing only a 93.5% increase.

If you are interested in buying a basket of American cannabis multi-sate operator stocks consider the AdvisorShares Pure U.S. Cannabis ETF (MSOS) that consists of the above 7 highlighted stocks plus an additional 41 smaller cap such stocks. It is also DOWN 14.2%. so far this week and was also DOWN 11.7% in the previous week.

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