Cannabis Stocks Cratered In October, Declining By 14%

According to our Pure-Play "Seed-to-Sale" Pot Stocks Index, the sector has been declining monthly since it peaked on February 10th and, unfortunately, I must report that the trend continues. The Index was DOWN again in October (by -14.2%) and is now DOWN -23.2% YTD. So much for all the hype out there giving the impression that all is well in the cannabis sector.

Our munKNEE  Pure-Play "Seed-to-Sale" Pot Stocks Index consists of the 23 non-ancillary (i.e. pure-play) cannabis companies that trade for at least US$1/share, have a market cap of at least US$200M and trade on one or more of the Canadian and/or American stock exchanges. Six of the 23 index constituents that meet that criteria are Canadian Licensed Producers (LPs) and 17 are American Multi-State Operators (MSOs) and they represent 10% of the total universe of 220 cannabis and ancillary companies currently trading.

NONE of the 23 stocks in the Index went up in October and 14 of them declined by more than 10%. The specifics are as follow in ascending order:

  1. Green Thumb (GTBIF): DOWN -26.3%
  2. Columbia Care (CCHWF): DOWN -22.9%
  3. Acreage (ACRDF/HF): DOWN -20.2%
  4. Hexo (HEXO): DOWN -20.1%
  5. Planet 13 (PLNHF): DOWN -19.5%
  6. Curaleaf (CURLF): DOWN -19.1%
  7. Valens (VLNCF): DOWN -18.8% 
  8. TerrAscend (TRSSF): DOWN -18.2%
  9. Ascend Wellness (AAWH): DOWN -18.0%
  10. Ayr Wellness (AYRWF): DOWN -16.8%
  11. Cresco (CRLBF): DOWN -15.9%
  12. Charlotte's Web (CWBHF): DOWN -15.5%
  13. Gage Growth (GAGE): DOWN -13.6%
  14. Jushi (JUSHF): DOWN -11.8%
  15. Canopy (CGC): DOWN -8.9%
  16. Tilray (TLRY): DOWN -8.8%
  17. Cronos (CRON): DOWN -8.3%
  18. Goodness Growth (GDNSF): DOWN -6.9%
  19. Trulieve (TCNNF): DOWN -6.5%
  20. Aurora (ACB): DOWN -4.2%
  21. Organigram (OGI): DOWN -3.9%
  22. Verano (VRNOF): DOWN -1.8%
  23. 4Front Ventures (FFNTF): DOWN - 0.9%

Action Going Forward

The above account is a grim reminder of how poorly cannabis stocks are performing but one could look at these declines as, perhaps, an opportunity to buy one or more of them. To that end, you are encouraged to visit the company websites and click on the hyperlinked symbols of those stocks you are interest in and review their latest financial statements and commentary as found in the TalkMarkets data there.

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