Revamped American Cannabis MSO Index Declined 15% In March

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The make-up of the munKNEE American Cannabis MSOs Index has been criticized for including constituents with market capitalizations of less than $200M compared to the constituents in the munKNEE Canadian Cannabis LPs Index which are all in excess of that making a direct comparison of the stock performances of the two indices problematic. To correct that imbalance, the MSO Index has been restructured with the exclusion of the five constituents in the index with market caps of less than $200M, namely, Acreage, Ascend, Ayr, Jushi, and Planet 13. Columbia Care is only slightly above the minimum market cap inclusion criteria and will be deleted from the Index should it drop below the minimum or its purchase by Cresco is finalized, whichever comes first.

The remaining 7 constituents are ranked below, in descending order, as to their stock performances for the month of  March and YTD (as of March 31st) with:

  • their likelihood of Financial Distress within the next 2 years according to data from, and
  • their average Wall Street Analyst 12-month Price Targets,
  • their degree of Short Interest (the number of shorted shares divided by the number of shares outstanding),
  • their percentage of Insider Ownership (directors and senior officers or other beneficial holders with 10% or more of the common shares) as sourced from and
  • their current market capitalizations.
  1. Verano (VRNOF): DOWN 1.7% in March; DOWN 5.2% YTD 
  2. TerrAscend (TRSSF): DOWN 3.2% in March; UP 38.2% YTD  
  3. Green Thumb (GTBIF): DOWN 7.2% in March; DOWN 8.7% YTD  
  4. Cresco Labs (CRLBF): DOWN 10.4% in March; DOWN 11.4% YTD  
  5. Trulieve (TCNNF): DOWN 13.1% in March 26.1; DOWN 26.1% YTD
    • 19 analysts:
    • have an average 12-month price target representing a 227.9% increase from its March 31st price and
    • have a consensus Strong Buy rating.
    • In addition, TCNNF has:
      • 69% chance of Financial Distress within 2 years,
      • NIL Short Interest,
      • a 18.7% Insider Ownership and
      • a current market cap of $1,040.0B.
    • Read: Trulieve Q4 Financials: Revenue Static; Net Loss Reduced By 33%
  6. Columbia Care (CCHWF): DOWN 14.8% in March; DOWN 30.7% YTD  
  7. Curaleaf (CURLF): DOWN 21.9% in March; DOWN 27.9% YTD  

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

  • had an average price change of -15.7% in March and are now -20.1% YTD. That compares with -13.5% in March and -17.2% YTD for the munKNEE Canadian Cannabis LPs Index and
  • have an average 12-month price target representing a 230% increase from their average March 31st prices compared to the 5 constituents in the munKNEE Canadian Cannabis LPs Index which have a forward price target representing only a 68.1% increase.

More By This Author:

"Multi-Bagger" Portfolio Down 13% In March; Still Up Almost 6% YTD
Our Aggressive ETF Portfolio Is Outperforming The S&P 500 By A 2-To-1 Margin
Conservative "Cannabis" Stocks Unchanged In March

Disclosure: None

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