E LP Pot Stock Sub-Index: Down 5% In March, Still Up 63% YTD

The Canadian Licensed Producers (LP) component of the munKNEE Pure-Play Pot Stock Index has 9 constituents and it dropped 4.9% in March but remains UP 62.8% YTD. The details are as follows:

LP Pure-Play Pot Stock Index Performance

The constituent price changes for the month were as follows, in descending order, with their YTD performances in brackets and any noteworthy news:

  1. Valens (VLNCF): +48.2% (+58.9%) to $2.03/share 
    • announced that it will be distributing select products from its partner Verse Cannabis to the Medical Cannabis by Shoppers platform.
    •  announced that it has entered into a custom manufacturing agreement with Experion Biotechnologies Inc. 
    • announced the closing of its previously announced acquisition of all of the issued and outstanding shares of LYF Food Technologies Inc.
    •  announced that it has entered into an extraction and custom manufacturing agreement with Rubicon Organics.
  2. Organigram (OGI): +15.5% (+163.2%) to $3.50/share
    • announced a C$221M strategic investment from a wholly-owned subsidiary of British American Tobacco 
  3. Rubicon (ROMJF+8.4% to (-3.9%) $2.72/share 
    • announced that its Wildflower CBD Relief Sticks and CBD Cool Sticks are expected to be available to consumers in Ontario, British Columbia, Alberta, and Saskatchewan by the first week of April 2021 and has already received purchase orders from distributors.
    • announced that it has entered into an agreement with The Valens Company to provide organic certified extraction services.
  4. Canopy (CGC): -1.9% (30.4%) to $32.12/share
    • announced that it has raised a $750 million in a senior secured term loan
  5. Aphria (APHA): -2.9% (+150.4%) to $17.33/share
    • no noteworthy news
  6. Hexo (HEXO): -9.3% (+72.3% to $6.34/share
    • no noteworthy news
  7. Tilray (TLRY): -9.4% (+167.3%) to $22.08/share
    • WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Tilray in connection with the company's proposed merger with Aphria Inc. 
  8. Cronos (CRON): -11.4% (+33.9%) to $9.29/share 
    • no noteworthy news
  9. Aurora (ACB): -13.4% (-9.6%) to $9.11/share 
    • Given Aurora has an Altman Z-Score of -1.93, an indication that the company is in duress and could go bankrupt within the next 24 months, Will Ashworth wouldn’t touch it above $7.50 because of its crushing debt.
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