THE ‘BILL CARA CANNABIS 50’ COMPANIES

This week we focus on 50 cannabis companies for which we, as portfolio managers, capture comprehensive investor-related data. We show how we capture the data and apply it to a proprietary algorithm to generate decision-support information.

We will let the data speak for itself. But new readers will first need an explanation.

Every week my partner Owen Williams and I compile a couple dozen data points for 5,100 listed companies. This information is assembled by Thomson Reuters, the premier Big Data company, from corporate filings and analyst reports. In addition to the components of the major indexes (Dow 30, S&P 500, Russell 3000, ACWI 500), we retrieve the same data for several hundred small cap companies to study them in detail in order for possibly trading them in client portfolios.

We also capture the same data now for a growing number of cannabis companies. A week ago, we had data on 21. This week the number is well over 50. To reduce the list to what we will be calling the Bill Cara Cannabis 50, we eliminated some of the biotech companies that are peripherally involved in cannabis as well as a few others.

As more of these companies meet their regulatory requirements and more industry analysts report on them, our database will expand.

Here is a sample of the fundamentals data that we obtain and massage every week.

  • Y/Y Forecasted Next Year Sales
  • Y/Y Forecasted Next Year EPS
  • 3-month consensus EPS revision % change
  • Consensus Est. Enterprise Value-to-EBITBA
  • Estimated Net Income-to-Sales
  • Net Debt-to-EBITDA
  • Cash Flow-to-Total Liabilities
  • Current Mkt Cap-to-Forecasted EBITDA
  • Current P/BV relative 5-Year Mean P/BV

Once weekly, we run this data for all 5,100 companies to get relative rankings of any stock against the Universe or its sector or within any peer group that we choose such as a portfolio or a group of stocks in an industry like cannabis.

For illustrative purposes, we used the US stock market tickers for our 50 cannabis companies, but this list also contains the Canadian market tickers and the links to the company websites.

In fact, some of the assigned US tickers cannot be traded yet. We could not trade CURLF, CWBHF, NWKRF, HRVOF, KHRNF, NACNF, NDVAF, PHCEF, SNNVF, TCNNF and ZBISF. But the Canadian tickers can be traded.

NRTH.V NCNNF 48North Cannabis Corp https://48nrth.com
ACRGF Acreage Holdings https://www.acreageholdings.com/
APHA.TO APHA Aphria Inc https://aphria.ca/
ACB.TO ACB Aurora Cannabis https://www.auroramj.com/
XLY.V CBWTF Auxly Cannabis https://auxly.com/
TRST.TO CTST Canntrust Holdings https://canntrust.ca/
WEED.TO CGC Canopy Growth Corp https://www.canopygrowth.com/
RIV.V CNPOF Canopy Rivers Inc https://www.canopyrivers.com/
CWEB.CA CWBHF Charlotte’s Web https://www.leafly.ca/sativa/charlottes-web
CRBP Corbus Pharmaceuticals Holdings https://www.corbuspharma.com/
CL.CA CRLBF Cresco Labs Inc. https://www.crescolabs.com/
CRON.TO CRON Cronos Group https://thecronosgroup.com/
CURA.CA CURLF Curaleaf Holdings, Inc. https://www.curaleaf.com/
NINE.V VRNDF Delta 9 Cannabis Inc https://www.delta9.ca/
EMH.V EMHTF Emerald Health Therapeutics https://emeraldhealth.ca/en
EVE.V EEVVF Eve & Co Inc https://www.evecannabis.ca/
FLWR.V FLWPF Flowr Corp https://flowr.ca/
CANN General Cannabis Corp https://www.generalcann.com/
GGB.CA GGBXF Green Growth Brand https://www.greengrowthbrands.com/
TGOD.TO TGODF Green Organic Dutchman https://www.tgod.ca/
GTII.CA GTBIF Green Thumb Industries Inc. https://www.gtigrows.com/
GTEC.V GGTTF GTEC Holdings https://www.gtec.co/
GWPH GW Pharmaceuticals PLC https://www.gwpharm.com/
HVT.V HRVOF Harvest One Cannabis Inc https://www.harvestone.com/
HEXO.TO HEXO Hexo Corp https://www.hexocorp.com/
NDVA.V NDVAF Indiva Ltd https://www.indiva.com/
IAN.CA ITHUF iAnthus Capital Holdings, Inc https://www.ianthus.com/
IN.TO IMLFF InMed Pharmaceuticals https://www.inmedpharma.com/
IIPR Innovative Industrial Properties http://innovativeindustrialproperties.com/
INSY INSYS Therapeutics Inc https://www.insysrx.com/
GENE.V IVITF Invictus MD Strategies Corp https://www.invictus-md.com/
KHRN.V KHRNF Khiron Life Sciences Corp https://www.khiron.ca/en/home
KSHB KushCo https://www.kushco.com/
LABS.V MEDIF Medipharm Labs Corp https://www.medipharmlabs.com/
MMEN.CA MMNFF Medmen Enterprises https://medmen.com/
N.V NXTTF Namaste Technologies Inc https://www.namastetechnologies.com/
META.V NACNF National Access Cannabis Corp http://nationalaccesscannabis.com/
OGI.V OGI Organigram Holdings https://www.organigram.ca/
PCLO.V PHCEF Pharmacielo Ltd https://www.pharmacielo.com/
SUGR.V RLLRF SugarBud Craft Growers Corp https://www.sugarbud.ca/
SNN.CA SNNVF Sunniva Inc. https://www.sunniva.com/
FIRE.TO SPRWF Supreme Cannabis Company Inc https://www.supreme.ca/
TBP.V TBPMF Tetra Bio Pharma Inc http://tetrabiopharma.com/
TLRY Tilray https://www.tilray.ca/
TRUL.CA TCNNF Trulieve Cannabis Corp. https://www.trulieve.com/
VIVO.V VVCIF Vivo Cannabis Inc https://www.vivocannabis.com/
WMD.V WDDMF WeedMD Inc https://www.weedmd.com/
WL.V WSLFF Westleaf Inc https://www.westleaf.com/
ZENA.V ZBISF Zenabis Global Inc https://www.zenabis.com/
ZYNE Zynerba Pharmaceuticals Inc https://zynerba.com/

NWKRF

Newstrike Brands

On the fundamentals data we receive, we apply a proprietary algorithm to compute relative scores for categories like Growth, PEG, EPS and Revenue Revisions etc, some of which are displayed in this article as exhibits.

Here is a background explanation of the Williams Market Analytics Fundamental Scoring System and our Fundamentals algorithm.

Scores range from 0 (weakest) to 100 (strongest) and are centered around 50, like a diffusion index, as explained below. The number in parenthesis is the company’s percentile rank for the metric, either versus all listed companies (“Global”) or versus its peers (“Sector”). The 100th percentile is top of class.

NA = Fundamental data is not available for the company or there is a lack of analyst coverage.

Metric Components Significance of 50 level
Growth Y/Y Forecasted Next Year Sales/Current
Year Sales
Y/Y Forecasted Next Year EPS/Current
Year EPS
50 = 0% aggregate growth rate
EPS
Revisions
6-month consensus revision % change
(current year)
3-month consensus revision % change
(current year)
6-month consensus revision % change
(for next year)
3-month consensus revision % change
(for next year)
50 = 0% change in aggregate revisions
Sales
Revisions
6-month consensus revision % change
(current year)
3-month consensus revision % change
(current year)
6-month consensus revision % change
(for next year)
3-month consensus revision % change
(for next year)
50 = 0% change in aggregate revisions
Valuation Consensus Est. Enterprise Value-to
EBITDA
Consensus Est. Enterprise Value-to-Sales
For Banks:
Total Liabilities & Shareholders’ Equity
to-EBITDA
Total Liabilities & Shareholders’ Equity
to-Revenue
50 = 50th percentile of each component
Profitability Estimated Net Income-to-Sales
Estimated EBITDA-to-Sales
50 = 0% profit margin for each measure
P/E Estimated P/E for Current Year
Estimated P/E for Next Year
50 = 50th percentile of average forward P/E
Financial
Situation
Total Debt-to-Total Equity
EBITDA-to-Interest Expense
Net Debt-to-EBITDA
Cash Flow-to-Total Liabilities
50 = 50th percentile of each component
Yield Indicated Dividend Yield 50 = 50th percentile of all dividend payers
Analyst Consensus analyst recommendation 50 = analyst recommendations between
Hold and Accumulate
PEG Avg. Est. P/E / In-House aggregate
growth rate calculation
50 = 50th percentile
Price/Book
Value
(historical)
Current P/BV relative 5-Year Mean P/BV 50 = 50th percentile of all percent spreads
Mkt Cap /
EBITDA
Current Mkt Cap-to-Forecasted EBITDA 50 = 50th percentile
Price/Earnings
(historical)
Current P/E relative 5-Year Mean P/E 50 = 50th percentile of all percent spreads

So, without getting into technical (market price and volume) studies that are part of our decision-support trading process, you can see we have an investment process based on fundamentals.

Now let’s examine the detailed scoring results of the Bill Cara Cannabis 50.

The first illustration is of Growth.

Ticker Name Growth Universe rank (4234)
ACRGF Acreage Holdings 100 1
CBWTF Auxly Cannabis Group Inc. 100 1
CTST CannTrust Holdings Inc 100 1
CRLBF Cresco Labs Inc. 100 1
CURLF Curaleaf Holdings, Inc. 100 1
EMHTF Emerald Health Therapeutics 100 1
EEVVF Eve & Co Inc 100 1
FLWPF Flowr Corp 100 1
GGBXF Green Growth Brand 100 1
GTBIF Green Thumb Industries Inc. 100 1
HEXO Hexo Corp 100 1
MEDIF MediPharm Labs Corp. 100 1
SNNVF Sunniva Inc. 100 1
VVCIF Vivo Cannabis Inc 100 1
ZBISF Zenabis Global Inc 100 1
TGODF Green Organic Dutchman 96.98 41
PHCEF Pharmacielo Ltd 96.10 43
APHA Aphria Inc. 95.12 46
SPRWF Supreme Cannabis Company, 92.58 55
KHRNF Khiron Life Sciences Corp 92.04 56
CWBHF Charlotte’s Web 91.84 59
IVITF Invictus MD Strategies Corp 91.65 61
MMNFF Medmen Enterprises 86.85 86
ACB Aurora Cannabis 85.91 93
IIPR Innovative Industrial Properties Inc 85.44 98
KSHB Kush Bottles Inc 85.36 101
CGC Canopy Growth Corporation 83.05 131
GWPH GW Pharmaceuticals PLC 82.48 145
TLRY Tilray Inc 82.32 149
VRNDF Delta 9 Cannabis Inc 79.96 212
OGRMF Organigram Holdings Inc 79.34 242
INSY Insys Therapeutics Inc 78.80 261
TCNNF Trulieve Cannabis Corp. 76.20 389
CRON Cronos Group Inc 75.57 410
CNPOF Canopy Rivers Inc 72.93 477
ZYNE Zynerba Pharmaceuticals Inc 55.04 1709
CRBP Corbus Pharmaceuticals Holdings Inc 36.99 3769
IMLFF InMed Pharmaceuticals 0 NA
NCNNF 48North Cannabis Corp NA NA
CANN General Cannabis Corp NA NA
GGTTF GTEC Holdings NA NA
HRVOF Harvest One Cannabis NA NA
NDVAF Indiva Ltd NA NA
NXTTF Namaste Technologies Inc. NA NA
NACNF National Access Cannabis Corp NA NA
NWKRF Newstrike Brands NA NA
RLLRF SugarBud Craft Growers Corp NA NA
TBPMF Tetra Bio Pharma Inc NA NA
WDDMF WeedMD Inc NA NA
WSLFF Westleaf Inc NA NA

From the description of the Fundamentals algorithm, you can see that our Growth score is based on both Revenue and Earnings calculations.

For statistical reasons, we apply a maximum score of 100 to all 5,000+ companies, for all calculations. This methodology resulted in 15 of the 50 cannabis companies having 100 scores for Growth and hence receiving a T1 (tied for #1) ranking.

That result reflects the explosive growth in the cannabis industry, particularly in the revenue part of the calculations, if not yet in earnings.

Of the 50 companies, there was insufficient data to calculate scores on 13. But of the 37 we scored, fully 34 of these companies scored more than 75.0, which is extraordinary, and is the reason so many investors are watching the cannabis industry closely.

The lowest Growth score that we would deem acceptable for investment was Organigram at 79.34, which stood at 242 out of 4,234 ranked companies this week (May 17 data). And yet Organigram ranked only #31 out of these 50 cannabis companies. Nothing further needs to be said.

Note that the database universe is 5100 companies but the scoring universe for each criterion is less because the reported data from the companies and/or the analysts was insufficient. In fact, for the emerging cannabis industry we were unable to analyze several criteria that we do every week for mature companies, such as Yield because there are no dividends paid by these companies.

The second illustration is for Price-Earnings Growth.

Here is where Earnings matter and the fact that only 24 of the 50 companies could be scored shows where investors need to focus. But these scores are based largely on analyst estimates, which are highly influenced by company guidance. When subsequent operating results fail to meet consensus estimates, the stock prices get hammered. Cannabis companies can either walk the talk investors expect, or they cannot.

Ticker Name PEG Universe rank (3595)
EEVVF Eve & Co Inc 100 1
SNNVF Sunniva Inc. 100 1
IVITF Invictus MD Strategies Corp 100 1
GTBIF Green Thumb Industries Inc. 99.35 113
GGBXF Green Growth Brand 99.33 115
ZBISF Zenabis Global Inc 98.83 133
VRNDF Delta 9 Cannabis Inc 96.68 222
CRLBF Cresco Labs Inc. 96.13 238
HEXO Hexo Corp 93.46 341
APHA Aphria Inc. 93.10 353
MEDIF MediPharm Labs Corp. 92.67 365
CRON Cronos Group Inc 92.34 378
CWBHF Charlotte’s Web 89.64 460
EMHTF Emerald Health Therapeutics 89.28 473
TCNNF Trulieve Cannabis Corp. 89.26 475
IIPR Innovative Industrial Properties Inc 84.94 603
OGRMF Organigram Holdings Inc 83.31 656
FLWPF Flowr Corp 75.46 898
SPRWF Supreme Cannabis Company, 74.26 931
CURLF Curaleaf Holdings, Inc. 72.94 973
ACRGF Acreage Holdings 72.68 985
CTST CannTrust Holdings Inc 62.50 1278
VVCIF Vivo Cannabis Inc 60.88 1315
CNPOF Canopy Rivers Inc 45.45 2446
CBWTF Auxly Cannabis Group Inc. NA NA
TGODF Green Organic Dutchman NA NA
PHCEF Pharmacielo Ltd NA NA
KHRNF Khiron Life Sciences Corp NA NA
MMNFF Medmen Enterprises NA NA
ACB Aurora Cannabis NA NA
KSHB Kush Bottles Inc NA NA
CGC Canopy Growth Corporation NA NA
GWPH GW Pharmaceuticals PLC NA NA
TLRY Tilray Inc NA NA
INSY Insys Therapeutics Inc NA NA
ZYNE Zynerba Pharmaceuticals Inc NA NA
CRBP Corbus Pharmaceuticals Holdings Inc NA NA
IMLFF InMed Pharmaceuticals NA NA
NCNNF 48North Cannabis Corp NA NA
CANN General Cannabis Corp NA NA
GGTTF GTEC Holdings NA NA
HRVOF Harvest One Cannabis NA NA
NDVAF Indiva Ltd NA NA
NXTTF Namaste Technologies Inc. NA NA
NACNF National Access Cannabis Corp NA NA
NWKRF Newstrike Brands NA NA
RLLRF SugarBud Craft Growers Corp NA NA
TBPMF Tetra Bio Pharma Inc NA NA
WDDMF WeedMD Inc NA NA
WSLFF Westleaf Inc NA NA

Of the 24 scored companies for PEG scores, Eve & Co Inc (EEVVF), Sunniva Inc. (SNNVF) and Invictus MD Strategies Corp (IVITF) were best, followed by Green Thumb Industries Inc. (GTBIF), Green Growth Brand (GGBXF) and Zenabis Global Inc (ZBISF).

In the universe of 5,100 companies of which we were able to score 3595 for PEG, and we typically filter out the bottom 80%, Organigram Holdings Inc., with a universal ranking of 656, 17th best for cannabis, was the lowest one we deem acceptable on this basis.

To determine the best candidates for investment based on company fundamentals, we look at the scores of all these exhibits. Prior to investing, we then run different market price-based algorithms.

Interesting is that some of profit-generating companies are being acquired by larger companies, probably to learn the ropes on how to generate earnings.

The third illustration is for EPS Revisions.

Bear in mind that we are not referring to absolute earnings here. When companies guide from a major loss to a lesser loss, the analysts take note.

Ticker Name EPS Revisions Universe rank (4171)
FLWPF Flowr Corp 100 1
CRBP Corbus Pharmaceuticals Holdings Inc 100 1
CGC Canopy Growth Corporation 89.27 184
INSY Insys Therapeutics Inc 87.25 193
CWBHF Charlotte’s Web 76.38 317
IMLFF InMed Pharmaceuticals 74.00 345
MEDIF MediPharm Labs Corp. 70.88 391
ZBISF Zenabis Global Inc 67.79 456
HEXO Hexo Corp 66.02 495
TCNNF Trulieve Cannabis Corp. 65.67 506
KHRNF Khiron Life Sciences Corp 64.85 535
CURLF Curaleaf Holdings, Inc. 56.65 855
IIPR Innovative Industrial Properties Inc 54.38 1027
CTST CannTrust Holdings Inc 44.33 2813
SPRWF Supreme Cannabis Company, 44.05 2833
ACB Aurora Cannabis 44.05 2833
KSHB Kush Bottles Inc 42.39 3017
CRON Cronos Group Inc 36.55 3365
ACRGF Acreage Holdings 33.38 3483
OGRMF Organigram Holdings Inc 32.97 3501
CBWTF Auxly Cannabis Group Inc. 32.89 3504
ZYNE Zynerba Pharmaceuticals Inc 32.41 3530
TLRY Tilray Inc 31.81 3554
TGODF Green Organic Dutchman 27.23 3671
HRVOF Harvest One Cannabis 27.18 3675
GTBIF Green Thumb Industries Inc. 27.13 3679
CNPOF Canopy Rivers Inc 26.75 3685
APHA Aphria Inc. 16.29 3864
MMNFF Medmen Enterprises 8.71 3967
PHCEF Pharmacielo Ltd 8.14 3975
VRNDF Delta 9 Cannabis Inc 2.55 4025
VVCIF Vivo Cannabis Inc 0 NA
EEVVF Eve & Co Inc NA NA
SNNVF Sunniva Inc. NA NA
IVITF Invictus MD Strategies Corp NA NA
GGBXF Green Growth Brand NA NA
CRLBF Cresco Labs Inc. NA NA
EMHTF Emerald Health Therapeutics NA NA
GWPH GW Pharmaceuticals PLC NA NA
NCNNF 48North Cannabis Corp NA NA
CANN General Cannabis Corp NA NA
GGTTF GTEC Holdings NA NA
NDVAF Indiva Ltd NA NA
NXTTF Namaste Technologies Inc. NA NA
NACNF National Access Cannabis Corp NA NA
NWKRF Newstrike Brands NA NA
RLLRF SugarBud Craft Growers Corp NA NA
TBPMF Tetra Bio Pharma Inc NA NA
WDDMF WeedMD Inc NA NA
WSLFF Westleaf Inc NA NA

On this EPS Revisions basis, 31 of the 50 companies received a score, but only 12 were acceptable for additional study.

The best two were Flowr Corp (FLWPF) and Corbus Pharmaceuticals Holdings Inc (CRBP), while the 12th best was Curaleaf Holdings, Inc. (CURLF). Next best, Innovative Industrial Properties Inc (IIPR) was close.

But the best of the rest scored only 2813 against the universe of 4,171 companies that received scores for this measure. That was CannTrust Holdings with a ranking of 2813. The others received very poor rankings.

The fourth illustration is for Revenue Revisions.

Of the 27 companies that we were able to score on this basis, from a universe of 4046 companies, there were seven, Flowr Corp (FLWPF), Corbus Pharmaceuticals Holdings Inc (CRBP), MediPharm Labs Corp. (MEDIF), Kush Bottles Inc (KSHB), Zynerba Pharmaceuticals Inc (ZYNE), Emerald Health Therapeutics (EMHTF), and GW Pharmaceuticals PLC ( GWPH), that received a T1 (tied for the maximum of 100).

Ticker Name Revenue Revisions Universe rank (4046)
FLWPF Flowr Corp 100 1
CRBP Corbus Pharmaceuticals Holdings Inc 100 1
MEDIF MediPharm Labs Corp. 100 1
KSHB Kush Bottles Inc 100 1
ZYNE Zynerba Pharmaceuticals Inc 100 1
EMHTF Emerald Health Therapeutics 100 1
GWPH GW Pharmaceuticals PLC 100 1
CURLF Curaleaf Holdings, Inc. 97.27 122
IIPR Innovative Industrial Properties Inc 93.48 162
TLRY Tilray Inc 86.74 229
CRLBF Cresco Labs Inc. 83.93 257
TCNNF Trulieve Cannabis Corp. 82.94 265
KHRNF Khiron Life Sciences Corp 72.58 431
ACRGF Acreage Holdings 67.60 540
OGRMF Organigram Holdings Inc 66.21 578
HEXO Hexo Corp 59.56 834
CWBHF Charlotte’s Web 59.05 862
GTBIF Green Thumb Industries Inc. 49.15 1983
APHA Aphria Inc. 47.19 2439
MMNFF Medmen Enterprises 42.48 3047
HRVOF Harvest One Cannabis 34.97 3457
CGC Canopy Growth Corporation 29.37 3598
CTST CannTrust Holdings Inc 20.44 3750
ACB Aurora Cannabis 9.95 3855
CBWTF Auxly Cannabis Group Inc. 7.64 3880
SPRWF Supreme Cannabis Company, 6.95 3895
CNPOF Canopy Rivers Inc 6.18 3901
INSY Insys Therapeutics Inc 0 NA
CRON Cronos Group Inc 0 NA
TGODF Green Organic Dutchman 0 NA
VRNDF Delta 9 Cannabis Inc 0 NA
VVCIF Vivo Cannabis Inc 0 NA
IMLFF InMed Pharmaceuticals NA NA
ZBISF Zenabis Global Inc NA NA
PHCEF Pharmacielo Ltd NA NA
EEVVF Eve & Co Inc NA NA
SNNVF Sunniva Inc. NA NA
IVITF Invictus MD Strategies Corp NA NA
GGBXF Green Growth Brand NA NA
NCNNF 48North Cannabis Corp NA NA
CANN General Cannabis Corp NA NA
GGTTF GTEC Holdings NA NA
NDVAF Indiva Ltd NA NA
NXTTF Namaste Technologies Inc. NA NA
NACNF National Access Cannabis Corp NA NA
NWKRF Newstrike Brands NA NA
RLLRF SugarBud Craft Growers Corp NA NA
TBPMF Tetra Bio Pharma Inc NA NA
WDDMF WeedMD Inc NA NA
WSLFF Westleaf Inc NA NA

Of these 27 companies out of 50 we scored and could rank; investors would take note that maybe 17 received scores and rankings that would be acceptable on this basis.

The fifth illustration is for Valuation, which we based on the consensus analyst estimates of Enterprise Value (EV) to EBITDA and EV to Sales.

Ticker Name Valuation Universe rank (4909)
INSY Insys Therapeutics Inc 100 1
IVITF Invictus MD Strategies Corp 87.38 593
VRNDF Delta 9 Cannabis Inc 81.38 895
WDDMF WeedMD Inc 68.71 1635
HRVOF Harvest One Cannabis 67.87 1680
KSHB Kush Bottles Inc 58.88 2245
ZBISF Zenabis Global Inc 55.52 2473
CBWTF Auxly Cannabis Group Inc. 54.20 2552
EEVVF Eve & Co Inc 48.13 3082
TCNNF Trulieve Cannabis Corp. 44.73 3523
GGBXF Green Growth Brand 44.34 3562
CWBHF Charlotte’s Web 39.53 3907
CURLF Curaleaf Holdings, Inc. 39.12 3933
NACNF National Access Cannabis Corp 39.01 3940
SPRWF Supreme Cannabis Company, 38.23 3980
APHA Aphria Inc. 37.58 4016
ACRGF Acreage Holdings 37.39 4024
KHRNF Khiron Life Sciences Corp 36.33 4088
OGRMF Organigram Holdings Inc 33.46 4209
SNNVF Sunniva Inc. 33.01 4233
NXTTF Namaste Technologies Inc. 32.20 4257
MEDIF MediPharm Labs Corp. 31.81 4272
VVCIF Vivo Cannabis Inc 27.77 4381
CANN General Cannabis Corp 27.74 4382
HEXO Hexo Corp 25.30 4419
EMHTF Emerald Health Therapeutics 24.07 4452
MMNFF Medmen Enterprises 21.78 4511
TGODF Green Organic Dutchman 21.29 4520
CRLBF Cresco Labs Inc. 16.82 4586
FLWPF Flowr Corp 14.61 4618
IIPR Innovative Industrial Properties Inc 14.23 4625
TLRY Tilray Inc 14.16 4626
CTST CannTrust Holdings Inc 11.93 4646
GWPH GW Pharmaceuticals PLC 2.44 4696
CRBP Corbus Pharmaceuticals Holdings Inc 0 NA
ZYNE Zynerba Pharmaceuticals Inc 0 NA
GTBIF Green Thumb Industries Inc. 0 NA
CGC Canopy Growth Corporation 0 NA
ACB Aurora Cannabis 0 NA
CNPOF Canopy Rivers Inc 0 NA
CRON Cronos Group Inc 0 NA
PHCEF Pharmacielo Ltd 0 NA
NCNNF 48North Cannabis Corp 0 NA
GGTTF GTEC Holdings 0 NA
NWKRF Newstrike Brands 0 NA
RLLRF SugarBud Craft Growers Corp 0 NA
TBPMF Tetra Bio Pharma Inc 0 NA
IMLFF InMed Pharmaceuticals NA NA
NDVAF Indiva Ltd NA NA
WSLFF Westleaf Inc NA NA

 

Three of the companies made the rankings cut based on Valuation as an investment factor. These were Insys Therapeutics Inc (INSY), Invictus MD Strategies Corp (IVITF), and Delta 9 Cannabis Inc (VRNDF).

Thirty-four of the 50 were scored and ranked, but most scores were very low and clearly unacceptable.

The sixth illustration is for the Price-to-Earnings Ratio (PER).

We were able to score and rank only 22 of the 50 companies and only two stood out. Invictus MD Strategies Corp (IVITF) and WeedMD Inc (WDDMF) received rankings of 170 and 904 out of the scored universe of 3384 companies.

Ticker Name PER Universe rank (3384)
IVITF Invictus MD Strategies Corp 93.27 170
WDDMF WeedMD Inc 70.70 904
VRNDF Delta 9 Cannabis Inc 57.32 1438
EEVVF Eve & Co Inc 49.50 1877
TCNNF Trulieve Cannabis Corp. 49.09 2004
HRVOF Harvest One Cannabis 47.49 2429
SNNVF Sunniva Inc. 47.38 2464
CRON Cronos Group Inc 46.66 2594
GGBXF Green Growth Brand 45.96 2665
OGRMF Organigram Holdings Inc 42.91 2890
CWBHF Charlotte’s Web 42.29 2925
IIPR Innovative Industrial Properties Inc 41.60 2956
APHA Aphria Inc. 39.77 3018
ZBISF Zenabis Global Inc 38.18 3055
MEDIF MediPharm Labs Corp. 35.16 3117
HEXO Hexo Corp 31.92 3143
CNPOF Canopy Rivers Inc 29.43 3182
CTST CannTrust Holdings Inc 29.22 3187
GTBIF Green Thumb Industries Inc. 28.03 3198
CRLBF Cresco Labs Inc. 22.79 3231
CURLF Curaleaf Holdings, Inc. 13.06 3270
SPRWF Supreme Cannabis Company, 9.19 3285
ACRGF Acreage Holdings 0 NA
VVCIF Vivo Cannabis Inc 0 NA
EMHTF Emerald Health Therapeutics 0 NA
FLWPF Flowr Corp 0.0 NA
INSY Insys Therapeutics Inc NA NA
KSHB Kush Bottles Inc NA NA
CBWTF Auxly Cannabis Group Inc. NA NA
NACNF National Access Cannabis Corp NA NA
KHRNF Khiron Life Sciences Corp NA NA
NXTTF Namaste Technologies Inc. NA NA
CANN General Cannabis Corp NA NA
MMNFF Medmen Enterprises NA NA
TGODF Green Organic Dutchman NA NA
TLRY Tilray Inc NA NA
GWPH GW Pharmaceuticals PLC NA NA
CRBP Corbus Pharmaceuticals Holdings Inc NA NA
ZYNE Zynerba Pharmaceuticals Inc NA NA
CGC Canopy Growth Corporation NA NA
ACB Aurora Cannabis NA NA
PHCEF Pharmacielo Ltd NA NA
NCNNF 48North Cannabis Corp NA NA
GGTTF GTEC Holdings NA NA
NWKRF Newstrike Brands NA NA
RLLRF SugarBud Craft Growers Corp NA NA
TBPMF Tetra Bio Pharma Inc NA NA
IMLFF InMed Pharmaceuticals NA NA
NDVAF Indiva Ltd NA NA
WSLFF Westleaf Inc NA NA

 

For these leaders, the scores benefited from estimates of 2019 and 2020 earnings that are unlikely to come true.

The seventh illustration is for Market Cap to forecasted EBITDA.

Only 12 of the 50 cannabis companies received a score that was related to estimated EBITDA. Where are the earnings? Of the scores we received, none would be acceptable on an investment basis. Market prices are simply excessive.

Ticker Name MV/EBIT Universe rank (4023)
VRNDF Delta 9 Cannabis Inc 49.41 2276
WDDMF WeedMD Inc 46.84 2952
TCNNF Trulieve Cannabis Corp. 45.70 3149
SNNVF Sunniva Inc. 45.24 3219
GTBIF Green Thumb Industries Inc. 40.39 3561
OGRMF Organigram Holdings Inc 35.23 3718
ZBISF Zenabis Global Inc 34.91 3728
IIPR Innovative Industrial Properties Inc 33.12 3755
MEDIF MediPharm Labs Corp. 32.63 3761
CWBHF Charlotte’s Web 25.92 3821
ACRGF Acreage Holdings 22.78 3841
CRLBF Cresco Labs Inc. 15.06 3875
CTST CannTrust Holdings Inc 0 NA
CURLF Curaleaf Holdings, Inc. 0 NA
IVITF Invictus MD Strategies Corp NA NA
EEVVF Eve & Co Inc NA NA
HRVOF Harvest One Cannabis NA NA
CRON Cronos Group Inc NA NA
GGBXF Green Growth Brand NA NA
APHA Aphria Inc. NA NA
HEXO Hexo Corp NA NA
CNPOF Canopy Rivers Inc NA NA
SPRWF Supreme Cannabis Company, NA NA
VVCIF Vivo Cannabis Inc NA NA
EMHTF Emerald Health Therapeutics NA NA
FLWPF Flowr Corp NA NA
INSY Insys Therapeutics Inc NA NA
KSHB Kush Bottles Inc NA NA
CBWTF Auxly Cannabis Group Inc. NA NA
NACNF National Access Cannabis Corp NA NA
KHRNF Khiron Life Sciences Corp NA NA
NXTTF Namaste Technologies Inc. NA NA
CANN General Cannabis Corp NA NA
MMNFF Medmen Enterprises NA NA
TGODF Green Organic Dutchman NA NA
TLRY Tilray Inc NA NA
GWPH GW Pharmaceuticals PLC NA NA
CRBP Corbus Pharmaceuticals Holdings Inc NA NA
ZYNE Zynerba Pharmaceuticals Inc NA NA
CGC Canopy Growth Corporation NA NA
ACB Aurora Cannabis NA NA
PHCEF Pharmacielo Ltd NA NA
NCNNF 48North Cannabis Corp NA NA
GGTTF GTEC Holdings NA NA
NWKRF Newstrike Brands NA NA
RLLRF SugarBud Craft Growers Corp NA NA
TBPMF Tetra Bio Pharma Inc NA NA
IMLFF InMed Pharmaceuticals NA NA
NDVAF Indiva Ltd NA NA
WSLFF Westleaf Inc NA NA

 

At least the analysts have reported an estimated EBITDA for those 12 companies.

The eighth illustration is related to Book Value.

We scored 47 of the 50 cannabis companies based on Market Price to Book Value. Our analysis shows 29 would be acceptable for potential investment. Green Growth Brand (GGBXF) and Vivo Cannabis Inc (VVCIF) received a maximum score of 100 (T1 ranking) – but there so many other non-cannabis companies with this T1 ranking — in the universe of 5024 scored companies.

At 24th best, CannTrust received a universal ranking of 960, which out of a possible 5024 is very good, which means that almost half the cannabis companies have outstanding book value per share because their market valuations are excessive.

Ticker Name BookValue Universe rank (5024)
GGBXF Green Growth Brand 100 1
VVCIF Vivo Cannabis Inc 100 1
SPRWF Supreme Cannabis Company, 83.95 171
VRNDF Delta 9 Cannabis Inc 81.86 187
EMHTF Emerald Health Therapeutics 73.01 260
TCNNF Trulieve Cannabis Corp. 72.92 267
INSY Insys Therapeutics Inc 72.77 273
MMNFF Medmen Enterprises 72.68 278
CRLBF Cresco Labs Inc. 72.66 280
IIPR Innovative Industrial Properties Inc 72.65 284
GTBIF Green Thumb Industries Inc. 72.54 304
CURLF Curaleaf Holdings, Inc. 72.40 311
TLRY Tilray Inc 68.86 434
CBWTF Auxly Cannabis Group Inc. 68.67 441
NWKRF Newstrike Brands 67.08 509
NACNF National Access Cannabis Corp 66.14 545
KSHB Kush Bottles Inc 65.29 593
WDDMF WeedMD Inc 65.06 614
ACB Aurora Cannabis 64.82 631
CANN General Cannabis Corp 64.71 639
IVITF Invictus MD Strategies Corp 64.62 644
APHA Aphria Inc. 64.43 661
EEVVF Eve & Co Inc 64.34 669
HRVOF Harvest One Cannabis 63.21 744
CWBHF Charlotte’s Web 61.74 861
NDVAF Indiva Ltd 61.69 866
TGODF Green Organic Dutchman 60.63 940
SNNVF Sunniva Inc. 60.55 951
CTST CannTrust Holdings Inc 60.47 960
CGC Canopy Growth Corporation 56.53 1386
NCNNF 48North Cannabis Corp 52.98 1955
HEXO Hexo Corp 52.14 2091
CRBP Corbus Pharmaceuticals Holdings Inc 51.12 2268
CRON Cronos Group Inc 48.93 2751
CNPOF Canopy Rivers Inc 48.24 2887
GGTTF GTEC Holdings 48.11 2911
NXTTF Namaste Technologies Inc. 45.26 3507
ZBISF Zenabis Global Inc 44.38 3662
ZYNE Zynerba Pharmaceuticals Inc 42.55 3929
GWPH GW Pharmaceuticals PLC 41.76 4028
RLLRF SugarBud Craft Growers Corp 39.89 4201
FLWPF Flowr Corp 39.24 4241
OGRMF Organigram Holdings Inc 29.19 4670
IMLFF InMed Pharmaceuticals 28.28 4696
PHCEF Pharmacielo Ltd 26.18 4737
KHRNF Khiron Life Sciences Corp 9.18 4873
MEDIF MediPharm Labs Corp. 0.0 NA
ACRGF Acreage Holdings 0.0 NA
TBPMF Tetra Bio Pharma Inc 0.0 NA
WSLFF Westleaf Inc NA NA

 

The ninth illustration is for Profitability.

Thirty-three of the 50 companies received a score based on estimated net income and estimated EBITDA to Sales. But of these, only one was deemed possibly acceptable for investment purposes based on this factor.

For Profitability, the best company is Innovative Industrial Properties Inc (IIPR), which reported strong earnings this month. The stock ranked #79 of the 4807 companies we monitor weekly.

Ticker Name Profitability Universe rank (4807)
IIPR Innovative Industrial Properties Inc 96.64 79
CWBHF Charlotte’s Web 71.36 1219
CRON Cronos Group Inc 64.58 1820
TCNNF Trulieve Cannabis Corp. 63.18 1975
OGRMF Organigram Holdings Inc 62.21 2090
ZBISF Zenabis Global Inc 59.49 2499
APHA Aphria Inc. 52.23 3694
CRLBF Cresco Labs Inc. 49.92 3970
CTST CannTrust Holdings Inc 49.58 4009
CURLF Curaleaf Holdings, Inc. 47.21 4223
GTBIF Green Thumb Industries Inc. 47.02 4231
KSHB Kush Bottles Inc 45.42 4288
SNNVF Sunniva Inc. 41.91 4364
VVCIF Vivo Cannabis Inc 40.41 4381
TLRY Tilray Inc 39.55 4396
INSY Insys Therapeutics Inc 36.84 4424
SPRWF Supreme Cannabis Company, 34.25 4444
NXTTF Namaste Technologies Inc. 34.18 4445
ACB Aurora Cannabis 31.29 4457
MMNFF Medmen Enterprises 28.68 4469
EMHTF Emerald Health Therapeutics 27.56 4476
FLWPF Flowr Corp 26.52 4482
CGC Canopy Growth Corporation 26.41 4483
ACRGF Acreage Holdings 26.32 4484
HEXO Hexo Corp 21.86 4506
CBWTF Auxly Cannabis Group Inc. 21.04 4514
HRVOF Harvest One Cannabis 20.75 4516
TGODF Green Organic Dutchman 19.85 4519
GWPH GW Pharmaceuticals PLC 18.30 4528
NWKRF Newstrike Brands 10.90 4570
CANN General Cannabis Corp 10.59 4572
IVITF Invictus MD Strategies Corp 4.71 4607
NACNF National Access Cannabis Corp 1.89 4619
CRBP Corbus Pharmaceuticals Holdings Inc 0 NA
GGTTF GTEC Holdings 0 NA
ZYNE Zynerba Pharmaceuticals Inc 0 NA
TBPMF Tetra Bio Pharma Inc 0 NA
GGBXF Green Growth Brand NA NA
VRNDF Delta 9 Cannabis Inc NA NA
WDDMF WeedMD Inc NA NA
EEVVF Eve & Co Inc NA NA
NDVAF Indiva Ltd NA NA
NCNNF 48North Cannabis Corp NA NA
CNPOF Canopy Rivers Inc NA NA
RLLRF SugarBud Craft Growers Corp NA NA
IMLFF InMed Pharmaceuticals NA NA
PHCEF Pharmacielo Ltd NA NA
KHRNF Khiron Life Sciences Corp NA NA
MEDIF MediPharm Labs Corp. NA NA
WSLFF Westleaf Inc NA NA

 

While just one of the 50 companies received an acceptable Profitability score Charlotte’s Web (CWBHF) was close with a 1219 ranking (improved this week from 1221) out of the universe of 4807 that we were able to score.

Only six cannabis companies received Profitability scores in the top 50% of companies and most were very lowly ranked. Herein lies a problem with market perception tied to growing capacity for the companies that have cultivation and sales licenses.

I have written this before: growing cannabis is not like growing lettuce. These companies can employ all the PhD’s and agriculture scholars they want for marketing purposes; but almost none of them can compete with the grey market for product quality. Investors are wondering why their products, in many cases, are not selling? It is simply because knowledgeable clients will not accept poor quality no matter how beautiful the packaging.

In our last article, we referred to the lack of green (i.e. Net Income and EBITDA). None of these companies can walk the talk. They produce brown bud.

The tenth illustration relates to Financial Situation. There are four factors we considered: (i) Total Debt-to-Total Equity (ii) EBITDA-to-Interest Expense (iii) Net Debt-to-EBITDA, and (iv) Cash Flow-to-Total Liabilities.

Ticker Name Financials Universe rank (5036)
MEDIF MediPharm Labs Corp. 100 1
CNPOF Canopy Rivers Inc 98.92 112
CWBHF Charlotte’s Web 94.62 161
GWPH GW Pharmaceuticals PLC 92.34 200
FLWPF Flowr Corp 75.20 1007
APHA Aphria Inc. 71.01 1220
CGC Canopy Growth Corporation 70.21 1268
ACRGF Acreage Holdings 69.83 1293
IIPR Innovative Industrial Properties Inc 68.80 1361
TCNNF Trulieve Cannabis Corp. 68.04 1403
EMHTF Emerald Health Therapeutics 67.32 1452
TGODF Green Organic Dutchman 66.92 1476
SPRWF Supreme Cannabis Company, 65.06 1599
CURLF Curaleaf Holdings, Inc. 64.71 1622
NWKRF Newstrike Brands 63.95 1676
HRVOF Harvest One Cannabis 62.94 1734
KSHB Kush Bottles Inc 62.21 1788
CRLBF Cresco Labs Inc. 62.19 1789
IMLFF InMed Pharmaceuticals 61.88 1815
CBWTF Auxly Cannabis Group Inc. 61.31 1855
GTBIF Green Thumb Industries Inc. 61.25 1860
OGRMF Organigram Holdings Inc 60.71 1896
CTST CannTrust Holdings Inc 60.14 1925
ZYNE Zynerba Pharmaceuticals Inc 60.03 1932
HEXO Hexo Corp 59.91 1940
NXTTF Namaste Technologies Inc. 59.52 1980
IVITF Invictus MD Strategies Corp 59.43 1989
CRBP Corbus Pharmaceuticals Holdings Inc 56.58 2207
VVCIF Vivo Cannabis Inc 55.79 2268
TBPMF Tetra Bio Pharma Inc 54.67 2343
NCNNF 48North Cannabis Corp 51.88 2605
TLRY Tilray Inc 51.72 2623
ZBISF Zenabis Global Inc 50.69 2764
PHCEF Pharmacielo Ltd 50.00 2898
INSY Insys Therapeutics Inc 48.36 3231
EEVVF Eve & Co Inc 45.84 3734
CRON Cronos Group Inc 44.96 3890
ACB Aurora Cannabis 44.51 3968
CANN General Cannabis Corp 38.26 4497
SNNVF Sunniva Inc. 37.15 4547
MMNFF Medmen Enterprises 36.16 4587
GGTTF GTEC Holdings 35.12 4640
NACNF National Access Cannabis Corp 28.58 4862
GGBXF Green Growth Brand 26.86 4891
VRNDF Delta 9 Cannabis Inc NA NA
WDDMF WeedMD Inc NA NA
NDVAF Indiva Ltd NA NA
RLLRF SugarBud Craft Growers Corp NA NA
KHRNF Khiron Life Sciences Corp NA NA
WSLFF Westleaf Inc NA NA

 

There were 44 of the 50 companies that received a Financials Quality score: Five were acceptable.

MediPharm Labs Corp. (MEDIF), Canopy Rivers Inc (CNPOF), Charlotte’s Web (CWBHF) and GW Pharmaceuticals PLC (GWPH) received extremely good rankings of T1, 112, 161 and 200 respectively out of the universe of 5036 we scored. Excellent.

Many more of the Cannabis 50 were in the ‘comfortable’ range, which reflects their relatively strong capitalization as speculators rushed into private placements with their high-risk mindset. However; that situation may be short-lived if the industry’s extremely high burn rates are not appropriately managed.

Some of the big names, Aurora Cannabis (3968), Cronos Group Inc (3890), General Cannabis Corp (44497), Medmen Enterprises (4587) and Green Growth Brand (4891), received very low Financial Quality rankings. Too many liabilities and not enough earnings at this point.

The eleventh illustration is of the consensus scoring of all the <strong>Analysts</strong> who follow the almost 5100 companies that we score and rank on a relative basis each week based on data from Thomson Reuters.

There were 42 companies that received an Analyst Consensus score. As more analysts follow the remaining eight companies that were unranked, they too will be accorded a consensus score and our ranking.

Ticker Name Consensus Universe rank (4327)
IVITF Invictus MD Strategies Corp 100 1
TBPMF Tetra Bio Pharma Inc 100 1
ZBISF Zenabis Global Inc 100 1
SNNVF Sunniva Inc. 100 1
GGBXF Green Growth Brand 100 1
VRNDF Delta 9 Cannabis Inc 100 1
KHRNF Khiron Life Sciences Corp 100 1
MEDIF MediPharm Labs Corp. 85.71 188
HRVOF Harvest One Cannabis 85.71 188
CBWTF Auxly Cannabis Group Inc. 85.71 188
VVCIF Vivo Cannabis Inc 85.71 188
WDDMF WeedMD Inc 85.71 188
ACRGF Acreage Holdings 82.86 364
IIPR Innovative Industrial Properties Inc 80.95 428
MMNFF Medmen Enterprises 80.95 428
CWBHF Charlotte’s Web 79.59 565
SPRWF Supreme Cannabis Company, 79.59 565
OGRMF Organigram Holdings Inc 79.22 595
CTST CannTrust Holdings Inc 79.22 595
TCNNF Trulieve Cannabis Corp. 78.57 612
GWPH GW Pharmaceuticals PLC 78.02 695
CRBP Corbus Pharmaceuticals Holdings Inc 77.78 701
CNPOF Canopy Rivers Inc 77.14 722
KSHB Kush Bottles Inc 77.14 722
ZYNE Zynerba Pharmaceuticals Inc 76.19 818
GTBIF Green Thumb Industries Inc. 75.51 892
FLWPF Flowr Corp 71.43 1105
EMHTF Emerald Health Therapeutics 71.43 1105
CURLF Curaleaf Holdings, Inc. 71.43 1105
CRLBF Cresco Labs Inc. 71.43 1105
IMLFF InMed Pharmaceuticals 71.43 1105
HEXO Hexo Corp 71.43 1105
PHCEF Pharmacielo Ltd 71.43 1105
EEVVF Eve & Co Inc 71.43 1105
ACB Aurora Cannabis 71.43 1105
RLLRF SugarBud Craft Growers Corp 71.43 1105
APHA Aphria Inc. 66.23 2063
CGC Canopy Growth Corporation 63.03 2367
TGODF Green Organic Dutchman 60.00 2630
INSY Insys Therapeutics Inc 60.00 2630
TLRY Tilray Inc 48.05 3553
CRON Cronos Group Inc 27.27 4274
NWKRF Newstrike Brands NA NA
NXTTF Namaste Technologies Inc. NA NA
NCNNF 48North Cannabis Corp NA NA
CANN General Cannabis Corp NA NA
GGTTF GTEC Holdings NA NA
NACNF National Access Cannabis Corp NA NA
NDVAF Indiva Ltd NA NA
WSLFF Westleaf Inc NA NA

 

Analyst ratings are not our scores or rankings. We are analyzing and reporting data based on what the industry analysts are reporting, so please don’t shoot the messenger.

The ranking out of a universe of 4327 ran from a best possible T1 for seven companies down to Cronos Group (CRON) at 4274 in the total universe, which was really bad. Tilray (TLRY) was also poorly rated by analysts with a consensus score that ranked just 3553 in our 4327 ranked universe.

On the other hand, the T1 top ranked cannabis companies were: Invictus MD Strategies Corp (IVITF), Tetra Bio Pharma Inc (TBPMF), Zenabis Global Inc (ZBISF), Sunniva Inc. (SNNVF), Green Growth Brand (GGBXF), Delta 9 Cannabis Inc (VRNDF), and Khiron Life Sciences Corp (KHRNF). Five more were ranked T188, which means 12 of 50 were ranked T188 or better out of 4327 companies. Moreover, a total of 26 of the 50 were ranked 892 or better.

The only interpretation is that many of these analysts are ignoring fundamentals and are probably too close to the investment banking side of the business where bad-mouthing a company results in zero investment banking work.

In time there will be more analysts covering these cannabis companies, and more companies will be covered. The data, scoring and ranking will continually change. If anything, these analysts, like their legal and accounting colleagues, are likely to become over time much more objective and less promotionally oriented in their assessments.

The 12th and final illustration in our study series is our proprietary composite score for Growth.

We were able to rank 46 of the 50 companies of a ranked universe that totaled 5091.

Ticker Name GROWTH COMP Universe rank (5091)
FLWPF Flowr Corp 87.72 3
MEDIF MediPharm Labs Corp. 86.98 6
CWBHF Charlotte’s Web 80.64 30
IIPR Innovative Industrial Properties Inc 80.41 32
TCNNF Trulieve Cannabis Corp. 78.30 46
CURLF Curaleaf Holdings, Inc. 78.26 47
HEXO Hexo Corp 77.24 57
EMHTF Emerald Health Therapeutics 71.53 179
CRLBF Cresco Labs Inc. 71.23 188
GTBIF Green Thumb Industries Inc. 70.47 211
ZBISF Zenabis Global Inc 68.72 264
OGRMF Organigram Holdings Inc 66.84 345
ACRGF Acreage Holdings 66.80 346
APHA Aphria Inc. 65.81 396
CTST CannTrust Holdings Inc 57.19 1081
SPRWF Supreme Cannabis Company, 55.96 1204
CRON Cronos Group Inc 55.60 1235
SNNVF Sunniva Inc. 53.95 1482
EEVVF Eve & Co Inc 52.29 1768
IVITF Invictus MD Strategies Corp 51.54 1924
GGBXF Green Growth Brand 51.14 2028
KSHB Kush Bottles Inc 50.93 2073
CRBP Corbus Pharmaceuticals Holdings Inc 50.23 2249
KHRNF Khiron Life Sciences Corp 45.89 2915
VRNDF Delta 9 Cannabis Inc 45.51 2938
CGC Canopy Growth Corporation 45.17 2957
TLRY Tilray Inc 44.74 2981
VVCIF Vivo Cannabis Inc 43.07 3084
GWPH GW Pharmaceuticals PLC 42.03 3129
ZYNE Zynerba Pharmaceuticals Inc 40.49 3208
CNPOF Canopy Rivers Inc 39.75 3238
INSY Insys Therapeutics Inc 37.47 3357
CBWTF Auxly Cannabis Group Inc. 32.22 3664
ACB Aurora Cannabis 31.77 3690
MMNFF Medmen Enterprises 30.85 3743
TGODF Green Organic Dutchman 29.18 3833
PHCEF Pharmacielo Ltd 23.35 4003
IMLFF InMed Pharmaceuticals 17.89 4131
HRVOF Harvest One Cannabis 16.61 4156
NXTTF Namaste Technologies Inc. 4.69 4794
NWKRF Newstrike Brands 3.74 4905
TBPMF Tetra Bio Pharma Inc 2.73 4970
NCNNF 48North Cannabis Corp 2.59 4976
CANN General Cannabis Corp 2.44 5004
GGTTF GTEC Holdings 1.76 5033
NACNF National Access Cannabis Corp 1.52 5045
WDDMF WeedMD Inc 0 NA
RLLRF SugarBud Craft Growers Corp 0 NA
NDVAF Indiva Ltd 0 NA
WSLFF Westleaf Inc 0 NA

 

Using the raw data at hand, our studies showed that 14 of the 50 cannabis companies were ranked 396 or better out of 5091, which appears to be outstanding. We report them objectively as we rank all companies in our 5100 ranked company universe the same way; however, there is a caveat. We do know there is a sell-side analyst bias to the data, much like there was in 1999-2000 as the internet industry emerged.

Seasoned companies are also ranked for Composite Value and Yield, but such analysis is unnecessary for cannabis at this point.

We believe that as the industry is in the emerging growth phase, we must pay attention to our weekly Fundamental scoring and ranking system results; but we know that for many months to come our proprietary Technical algorithms will be more important for decision-support purposes.

Like our readers and clients, we are students of the market. Every week is a learning experience and we hope this one was for you as well.

As we broaden and deepen our research, we anticipate offering a cannabis portfolio as an option to clients.

 

 


Like to give your opinion? Join our Community Discussion