The Ancillary Pot Stocks Index consists of the 7 major companies that provide goods and/or services to American cannabis multi-state operators (MSOs) and Canadian licensed producers (LPs). They had been declining monthly since the beginning of 2022 but that all changed in October with the Index outpacing the performance of the S&P 500 by 12.2% to 6.9% as of the close of trading on October 26th*. The performances of the Index constituents are presented below as of then, in descending order:

1. Hydrofarm Holdings Group (HYFM): UP 30.4% in October*
   • A manufacturer and wholesaler of hydroponics equipment and commercial horticultural products in the lighting, climate control, nutrients, and growing media categories.
2. Forian (FORA): UP 16.4% in October*
   • A provider of a suite of SaaS solutions, data management capabilities, and proprietary data and analytics to optimize and measure operational, clinical, and financial performance.
3. Innovative Industrial Properties (IIPR): UP 13.8% in October*
   • A real estate investment trust (REIT) engaged in the acquisition and management of industrial properties leased to MSOs.
4. Turning Point Brands Inc. (TPB): UP 11.2% in October*
   • A manufacturer, marketer, and distributor of alternative smoking accessories and consumables with active ingredients through more than 210,000 retail outlets in North America.
5. Scotts Miracle-Gro Company (SMG): UP 10.6% in October*
   • A marketer of consumer lawn and gardening products and, through its subsidiary Hawthorne Gardening, in hydroponic and indoor growing products for the cannabis industry.
6. AFC Gamma (AFCG): UP 9.1% in October*
   • A real estate finance company operating as a mortgage real estate investment trust (mREIT) to provide loans to marijuana operators
7. GrowGeneration Corp. (GRWG): DOWN 2.6% in October*
   • A retailer of organic nutrients and soils, advanced lighting technology, and state-of-the-art hydroponic equipment to commercial and home growers in 53 retail stores in the U.S.

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