The Canadian Licensed Producer (LP) component of the munKNEE Pure-Play Pot Stock Index of 9 vertically integrated constituents continues to surge going up 13.5% on Tuesday and is now up 118.6% YTD.

LP Pure-Play Pot Stock Index Performance

The constituent declines are as follows in descending order (with the YTD number in brackets):

1. Aphria (APHA): +28.3% to $21.73/share (+214.0%)
   • Cantor Fitzgerald analyst Pablo Zuanic reiterated his overweight rating and boosted his one-year price forecast from $20.50 to $25.62. 
2. Hexo (HEXO): +22.6% to $9.12/share (+147.8%)
   • Announced plans to acquire Zenabis Global in an all-stock deal valued at approximately $235M.
3. Tilray (TLRY): +19.4% to $34.63/share (+319.2%)
   • Cantor Fitzgerald analyst Pablo Zuanic raised his price target from $24.20 to $30.25, a 25% boost, and is maintaining his hold rating on shares.
4. Aurora (ACB): +12.9% to $14.09/share (+69.6%)
   • Pablo Zuanic of Cantor Fitzgerald raised his price target from $17 to $18 while maintaining his “neutral” rating.
   • A carry-over from its favorable Q2 financial report last week (see here).
5. Organigram (OGI): +11.5% to $4.18/share (+214.3%)
   • Continued positive market sentiment.
6. Cronos (CRON): +7.5% to $13.19/share (+90.1%)
   • Continued positive market sentiment.
7. Rubicon (ROMJF) +5.5% to $3.22/share (+13.8%)
   • No specific news.
8. Canopy (CGC): +4.5% to $42.13/share (+71.0%)
   • A carry-over from its favorable Q3 financial report last week (see here).
9. Valens (VLNCF): +2.4% to $1.49/share (+14.6%)
   • No specific news.

Change In the munKNEE LP Pure-Play Pot Stock Sub-Index

Neptune Wellness' recent purchase of a 51% interest in Sprout Foods, an organic plant-based baby food/toddler snack company, now makes Neptune ineligible for inclusion in the munKNEE LP Pure-Play Pot Stock Sub-Index as one of the criteria for inclusion requires that the constituents generate 100% of their revenue directly from the sale of cannabis products. As such, Neptune has been removed from the Index.

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