The munKNEE American Cannabis MSOs Index, which tracks the 12 largest vertically integrated (i.e. seed-to-sale) multi-state operators by market capitalization, declined 42.6% in December. As a result of the December decline the Index declined 72.7% in 2022. Across the industry, there are multiple reasons indicated for continued negative performance: economic headwinds; price competition from the illegal market; stalled progress in legalizing marijuana on the Federal level, which makes it harder to raise money; and an overall drop in cannabis pricing due to the influx of would-be players.

Below are the performances of the constituents in the American Cannabis MSOs Index in December, in descending order, and for all of 2022. All are still listed on the OTC markets. Also presented are links to summary articles on their latest quarter financial results and a link to a previous article that highlights the financial health of each constituent.

1. Ascend (AAWH): DOWN 33.0% in December; DOWN 80.2% in 2022
   • Read: Ascend Wellness Q3 Report: Record Revenue, Adjusted Gross Profit, And EBITDA Margin
2. Green Thumb* (GTBIF): DOWN 35.2% in December; DOWN 62.0% in 2022
   • Read: Green Thumb Q3 Reports Record Revenue
3. Curaleaf* (CURLF): DOWN 40.9% in December; DOWN 56.6% in 2022
   • Read: Curaleaf Q3 Report Reveals +80% Decrease In Net Profit
4. Verano* (VRNOF): DOWN 41.1% in December; DOWN 75.5% in 2022
   • Read: Verano Q3 Financial Report Reveals Major Increase In Net Loss
5. Trulieve* (TCNNF): DOWN 41.3% in December; DOWN 70.9% in 2022
   • Read: Trulieve Cannabis Q3 Financials Were Down But Stock Price Jumps
6. TerrAscend* (TRSSF): DOWN 41.8% in December; DOWN 82.0% in 2022
   • Read: TerrAscend Q3 Financial Report Reveals Major Declines In Income And EBITDA
7. Cresco Labs* (CRLBF): DOWN 47.8% in December; DOWN 73.8% in 2022
   • Read: Cresco Labs Q3 Financials Show No Improvement Over Q2 Results
8. Planet 13 (PLNHF): DOWN 49.6% in December; DOWN 77.0% in 2022
   • Read: Planet 13 Financial Metrics In Q3 All Declined
9. Acreage (ACRDF): DOWN 52.9% in December; DOWN 57.9% in 2022
   • Read: Acreage Reports Third Quarter 2022 Financial Results
10. Columbia Care (CCHWF): DOWN 55.4% in December; DOWN 73.8% in 2022
    • Read: Columbia Care Reports Third Quarter 2022 Results
11. Ayr (AYRWF): DOWN 56.3% in December; DOWN 92.0% in 2022
    • Read: Ayr Wellness Q3 Financial Metrics All Show Major Improvement
12. Jushi (JUSHF): DOWN 63.2% in December; DOWN 77.2% in 2022
    • Read: Jushi Holdings Releases Mixed Preliminary Q3 Financials

* These six companies have market capitalizations in excess of $500M and will be among the 16 stocks in munKNEE's upcoming Potential "Rags-to-Riches" Portfolio for 2023; articles tracking its performance should commence the second week of January, 2023. 

The munKNEE American Cannabis MSO Stocks Index was DOWN a further 4.1% this week bringing the Index DOWN 42.6% in December and -72.7% for all of 2022. Of interest, that compares unfavorably with the munKNEE  Canadian Cannabis LP Stocks Index which only went DOWN 2.6% this week but went DOWN 29.3% in December and DOWN 66.0% in all of 2022 (see details here). 

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