The American Cannabis Multi-State Operators Index tracks the performance of the 13 largest (by market capitalization) pure-play stocks. The uptrend in the Index faltered last week (DOWN 1.8%) with 8 of the 13 constituents declining. Below are the performances of the constituents last week, in descending order, and since the end of June.

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1. Ascend (AAWH): UP 11.3% this past week; UP 33.3% since the end of June
   • Recent Analysis/Commentary: Go here
2. Columbia Care (CCHWF): UP 8.7% this past week; UP 40.3% since the end of June
   • Recent Analysis/Commentary: Go here
3. Verano (VRNOF): UP 7.9% this past week; UP 3.9 % since the end of June
   • Recent Analysis/Commentary: Go here
4. Cresco (CRLBF): UP 7.5% this past week; UP 47.8% since the end of June
   • Recent Analysis/Commentary: Go here
5. Goodness Growth (GDNSF): UP 7.3% this past week; UP 5.1% since the end of June
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Declined Less than 6%

1. Green Thumb (GTBIF): DOWN 0.5% this past week; UP 36.5% since the end of June
   • Recent Analysis/Commentary: Go here
2. Curaleaf (CURLF): DOWN 2.3% this past week; UP 18.2% since the end of June
   • Recent Analysis/Commentary: Go here
3. Trulieve (TCNNF): DOWN 3.0% this past week; UP 10.9% since the end of June
   • Recent Analysis/Commentary: Go here
4. Acreage (ACRDF/HF): DOWN 5.9% this past week; UP 0.6% since the end of June
   • Recent Analysis/Commentary: Go here

Declined In Excess Of 6%

1. Jushi (JUSHF): DOWN 7.9% this past week; UP 22.5% since the end of June
   • Recent Analysis/Commentary: Go here
2. Ayr (AYRWF): DOWN 13.0% this past week; DOWN 16.5% since the end of June
   • Recent Analysis/Commentary: Go here
3. Planet 13 (PLNHF): DOWN 15.8% this past week; UP 39.1% since the end of June
   • Recent Analysis/Commentary: Go here
4. TerrAscend (TRSSF): DOWN 19.3% this past week; DOWN 25.0% since the end of June
   • Recent Analysis/Commentary: Go here

In total,

• the munKNEE American Cannabis Multi State Operators Index was DOWN 1.8% last week but is UP 10.1% since the end of June but still DOWN 52.6% YTD.
• That compares favorably with the munKNEE Canadian Pure-Play Pot Stocks Index (see details here) which was DOWN 2.8% last week but is UP 18.4% since the end of June but still DOWN 51.3% YTD.

For a financial assessment of each of the above MSOs visit a recent article (see here) that provides such data.

If you are interested in investing in one of the ETFs that are heavily invested in American pure-play vertically integrated cannabis MSO companies (see here)  then consider one of the following:

1. Purpose Marijuana Opportunities ETF (MJJ:NEO): 95% of its constituents are pure-play of which 100% are MSOs. The ETF is only listed on the Canadian NEO exchange and trades in Canadian dollars. If you are a non-Canadian give your broker the ISIN  number CA74641T1066MJJ to help facilitate the purchase.
2. Pure US Cannabis ETF (MSOS): 90% of its constituents are pure-play of which 100% are MSOs
3. Roundhill Cannabis ETF (WEED): 81% of its constituents are pure-play of which 80% are MSOs
4. Horizons US Marijuana Index ETF (HMUS:NEO): 78% of its constituents are pure-play of which 100% are MSOs. The ETF is only listed on the Canadian NEO exchange and trades in Canadian dollars. If you are a non-Canadian give your broker the ISIN number CA44055B2066 to help facilitate the purchase.
5. Amplify Seymour Cannabis ETF (CNBS): 66% of its constituents are pure-play of which 78% are MSOs

If you are more adventuresome consider investing in one of the following leveraged (inverse or bull) ETFs:

1. ETFMG 2x Daily Inverse Alternative Harvest ETF (MJIN)
2. ETFMG 2x Daily Bull Alternative Harvest ETF (MJXL)
3. Horizons 2x Bull Marijuana Companies ETF (HMJU)

An "inverse" ETF is the way to go if you think the cannabis sector is going to decline considerably in the months ahead while a 'bull" ETF is for those that think the sector is going to advance. Personally, I think the American marijuana market has nowhere to go up having declined 52.6% YTD - and having declined 78.2% from its peak in February 2021. That is not a recommendation, however, so do your own research before taking a position.

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