The number of our munKNEE "Seed-to-Sale" Pot Stocks Index constituents has been rebalanced with the delisting of Gage Growth on Friday on the conclusion of its purchase by TerrAscend. The Index now consists of just 20 non-ancillary (i.e. pure-play) vertically integrated cannabis companies whose stocks trade for at least US$1/share (4Front Ventures is the only exception), have a market cap of at least US$200M, and trade on one or more of the Canadian and/or American stock exchanges.

Our Index includes:

• the Pure-Play Canadian LP Pot Stock Sub-Index of 5 Canadian Licensed Producers and
• the Pure-Play American MSO Pot Stock Sub-Index of 15 American Multi-State Operators

which, in total, represent approximately 10% of the total universe of 217 cannabis and ancillary companies currently trading. Our non-tradable Index gives each constituent the same importance to provide a comparison of the performance of each with the others and the stated sector as a whole.

The munKNEE Pure-Play Canadian LP Pot Stock Sub-Index

The 5 constituents of the LP index consists of Aurora Cannabis, Canopy Growth, Cronos Group, Organigram Holdings and Tilray Group. The best performer during the week was Aurora (ACB) which went DOWN -5.4% and is now DOWN -41.6% YTD. The other 4 constituents declined but by less than -5%.

The LP Sub-Index went DOWN a further -3.1% this week after having gone DOWN -11.6% the week before and is now DOWN -29.7% YTD and DOWN a whopping -88.6% from its high in 2021 and is only 3.7% above its 52-week low.

The munKNEE Pure-Play American MSO Pot Stock Sub-Index

The 20 constituents of the MSO index consist of 4Front Ventures, Acreage Holdings, Ascend Wellness, Ayr Wellness, Columbia Care, Cresco Labs, Curaleaf Holdings, Goodness Growth, Green Thumb, Jushi Holdings, Planet 13, TerrAscend Corp., The Valens Company, Trulieve Cannabis, and Verano Holdings. The best, and worst, performers during the week (i.e. +/-5%) were as follows in descending order and with their year-to-date performances in brackets:

1. Acreage (ACRDF/ACRHF): +21.7%; (+8.4% YTD)
2. Valens (VLNS): -8.5%; (-21.6% YTD)
3. 4Front Ventures (FFNTF): +2.6%; (-25.2% YTD)
4. Green Thumb (GTBIF): -5.0%; (-29.2% YTD)
5. Jushi (JUSHF): -5.0%; (-5.5% YTD)
6. Trulieve (TCNNF): -6.6%; (-29.1% YTD)
7. Cresco (CRLBF): -7.5%; (-16.9% YTD)
8. Columbia Care (CCHWF): -7.7%; (-3.8% YTD)
9. TerrAscend (TRSSF): -10.6%; (-22.5% YTD)
10. Planet 13 (PLNHF): -20.3%: (-24.3% YTD)

The other 5 constituents in the Index went DOWN this week, as well, but less than -5%.

In total, the MSO Sub-Index went DOWN -4.3% this week and is now DOWN -24.8% YTD,  DOWN -66.8% from its high in 2021 and is now only 6.2% above its 52-week low.

In Summary

In total, the munKNEE "Seed-to-Sale" Pot Stocks Index went DOWN -4.1% this week and is now DOWN -25.7% YTD , DOWN -74.9% from its high in 2021 and is now only 5.8% above its 52-week low.