The 12 Largest American Cannabis MSOs Collapsed 73% In 2022

The munKNEE American Cannabis MSOs Indexwhich 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
  2. Green Thumb* (GTBIF): DOWN 35.2% in December; DOWN 62.0% in 2022
  3. Curaleaf* (CURLF): DOWN 40.9% in December; DOWN 56.6% in 2022
  4. Verano* (VRNOF): DOWN 41.1% in December; DOWN 75.5% in 2022
  5. Trulieve* (TCNNF): DOWN 41.3% in December; DOWN 70.9% in 2022
  6. TerrAscend* (TRSSF): DOWN 41.8% in December; DOWN 82.0% in 2022
  7. Cresco Labs* (CRLBF): DOWN 47.8% in December; DOWN 73.8% in 2022
  8. Planet 13 (PLNHF): DOWN 49.6% in December; DOWN 77.0% in 2022
  9. Acreage (ACRDF): DOWN 52.9% in December; DOWN 57.9% in 2022
  10. Columbia Care (CCHWF): DOWN 55.4% in December; DOWN 73.8% in 2022
  11. Ayr (AYRWF): DOWN 56.3% in December; DOWN 92.0% in 2022
  12. Jushi (JUSHF): DOWN 63.2% in December; DOWN 77.2% in 2022

* 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). 

More By This Author:

Largest Plant-Based Food Stocks Index Collapsed 83% In 2022
The 5 Largest Canadian Cannabis LP Stocks Collapsed 66% In 2022
Largest Psychedelic Stocks Down 8% Last Week; Down 22% So Far This Month


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