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Introduction

Last Friday was "Triple Witching Day” - or "Freaky Friday" (see here) - on Wall Street with stock options*, market index options and market index futures all expiring on the same day. This usually generates higher trading volumes since contracts allowed to expire cause traders to close, roll out, or offset their expiring positions. (Stock options contracts are contracts taken out on the direction of a stock price at a future date which give the buyer the right to buy or sell shares of a company within that future timeframe. Calls let you buy stock shares at a set price, known as the strike price, on or before the expiration date. Puts give you the right to sell shares.)

In the case of individual stocks, stock prices can be bid higher and higher during the last hour of the trading day if traders want to own certain stocks have the potential to achieve much higher prices before a contract were to expire. That is exactly what happened last Friday with trading volume in the 7 stocks in the  munKNEE American Cannabis MSO Stocks Index going up 51.5% higher than the average daily trading volume and closing out the trading day up 14.7%.

The munKNEE American Cannabis MSO Stocks Index

Below is how each of the stocks in the Index responded:

• in price on March 15th vs. March 14th, in descending order, 
• in trading volume on March 15th vs. the average daily trading volume,
• in its 6-week (end of January) price trend,
• plus any recent news, commentary, and/or analysis on each company.

1. Verano Holdings (VRNOF): Price: up 25.2%; Volume: up 11.1%; Price Trend: down 10.9%   
   • recent news, commentary, and/or analysis:
     • Q4 Results Of Verano Holdings Were Down Across The Board
2. Curaleaf Holdings (CURLF); Price: up 21.9%; Volume: up 40.6%; Price Trend: down 5.3%
   • recent news, commentary, and/or analysis:
     • Q4 Financials Of Curaleaf Show Improvement Across The Board
3. Ayr Wellness (AYRWF): Price: up 21.6%; Volume: up 96.0%; Price Trend: down 41.2%
   • recent news, commentary, and/or analysis:
     • Ayr Wellness Reports Q4 Increase In Net Loss Of 53%
4. Trulieve Cannabis (TCNNF): Price: up 11.8%; Volume: up 30.4%; Price Trend: up 16.7%
   • recent news, commentary, and/or analysis:
     • Trulieve Cannabis Q4 Net Loss Increased By 32%
5. Cresco Labs (CRLBF): Price: up 11.8%; Volume: up 36.2%; Price Trend: down 7.4%
   • recent news, commentary, and/or analysis:
     • Cresco Labs Q4 Results Demonstrate Significant Profitability and Cash Flow Improvements
6. Green Thumb Industries (GTBIF): Price: up 11.3%; Volume: up 99.5%; Price Trend: down 2.4%
   • recent news, commentary, and/or analysis:
     • Green Thumb Delivered A Strong Q4
7. TerrAscend Corp. (TSNDF): Price: up 6.2%; Volume: up 88.6%; Price Trend: down 14.1%
   • recent news, commentary, and/or analysis:
     • Q4 Financials Of TerrAscend, Were Terrible

For the record, the munKNEE American Cannabis MSO Stocks Index was up 9.9% last week and is now up 33% YTD; in comparison,  the  AdvisorShares Pure US Cannabis ETF (MSOS) was up 9.5% on Friday, and is now up 26.5% YTD.

More By This Author:

“Triple Witching Day” Or "Freaky Friday" On Wall Street
Q4 Financials Of Cannabis MSO, TerrAscend, Were Terrible
Cannabis MSO Ayr Wellness Reports Q4 Increase In Net Loss Of 53%