Largest U.S. Cannabis Stocks Continue To Outperform Canadian LPs

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Marijuana stocks continued to rise during the first week of May following the reintroduction during the last week of April 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. With the bill’s reintroduction, there’s now a clear route for the SAFE Banking Act to make its way through the Senate Banking Committee and ultimately be voted on in the Senate.

The 7 constituents in the munKNEE American Cannabis MSOs Index are ranked below, in descending order, as to their stock performances during the first week of May (i.e. MTD) and YTD with:

  1. Green Thumb (GTBIF): Up 20.0% MTD; Up 1.1% YTD  
    • 21 analysts:
    • have an average 12-month price target representing a 125.2% 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 $2.05B.
  2. Curaleaf (CURLF): Up 9.4% MTD; Down 28.4% YTD  
    • 20 analysts:
    • have an average 12-month price target representing a 286.8% 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 $1.99B
  3. TerrAscend (TRSSF): Up 8.9% MTD; Up 66.4% YTD  
    • 11 analysts:
    • have an average 12-month price target representing a 31.1% 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 $615M.
  4. Cresco Labs (CRLBF): Up 7.7% MTD; Down 4.4% YTD  
    • 12 analysts:
    • have an average 12-month price target representing a 227.4% 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 $688M.
  5. Verano (VRNOF): Up 7.7% MTD; Up 4.2% YTD
    • 13 analysts:
    • have an average 12-month price target representing a 211.5% 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 $1.09B.
  6. Trulieve (TCNNF): Up 7.4% MTD; Down 23.5% YTD
    • 19 analysts:
    • have an average 12-month price target representing a 217.1% 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 $1.08B.
  7. Columbia Care (CCHWF): Down 4.1% MTD; Down 37.3% YTD  
    • 2 analysts:
    • have an average 12-month price target representing a 742.5% 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 $190M.

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

  • was Up 11.7% MTD but is still Down 8.6% YTD. In comparison, the munKNEE Canadian Cannabis LPs Index  is Up 10.3% MTD, Down 20.0% YTD.
  • has an average 12-month price target representing a 189.0% increase from their average May 5th prices compared to the 5 constituents in the munKNEE Canadian Cannabis LPs Index, which have a forward price target representing only a 74.1% increase.

If you would be interested in buying a basket of American cannabis multi-state operator stocks, consider the AdvisorShares Pure U.S. Cannabis ETF (MSOS), which consists of our 7 indexed stocks plus an additional 41 smaller cap such stocks. MSOS is + 11.8% MTD ,  but still -10.04% YTD.


More By This Author:

5 Largest Canadian Cannabis LPs Up, So Far, In May
April Summary: Conservative "Cannabis" Stocks Outperformed
April Psychedelic Drug Stocks Recap: The Ups And Downs

Disclosure:None

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