Comparing the ‘Cannabis 50’ to the S&P 50

This week we compare many corporate fundamentals of the ‘Cannabis 50’ companies to the largest 50 of the S&P 500 companies.

If we are going to buy, sell or hold the stocks, then we ought to understand how they stack up to the world’s best-known companies. In fact, for both sets of 50 companies we rank the fundamental scores derived from Thomson Reuters raw data, our Big Data supplier, against a full list of 5091 companies that are also listed in many international markets.

We capture the data and apply it to a proprietary algorithm to generate portfolio management decision-support information. The analysis done for this article is a part of our research.

From a growing number of cannabis companies, we created the Bill Cara Cannabis 50, which we are preparing to trade professionally. As more cannabis companies meet their regulatory requirements and more industry analysts report on them, our database will expand and there will be a turnover both in this list and as candidates for our portfolio.

Here are lists of the Cannabis 50 and the S&P 50.

For the exhibits, we used the US stock market tickers for these companies, but this exhibit also contains the Canadian market tickers and the links to the company websites for each of the Cannabis 50.

EXHIBIT A (Cannabis 50)

Stocktwit CdnStocktwit USCdn tickerUS tickerCompany Name and Website
$NCNNFNRTH.VNCNNF48North Cannabis Corp
$ACRGFACRGFAcreage Holdings
$APH.CA$APHAAPHA.TOAPHAAphria Inc.
$ACB.CA$ACBACB.TOACBAurora Cannabis
$CBWTFXLY.VCBWTFAuxly Cannabis
$TRST.CA$CTSTTRST.TOCTSTCannTrust Holdings Inc
$WEED.CA$CGCWEED.TOCGCCanopy Growth Corporation
$RIV.CA$CNPOFRIV.VCNPOFCanopy Rivers Inc
$CWBHFCWEB.CACWBHFCharlotte’s Web
$CRBPCRBPCorbus Pharmaceuticals Holdings Inc
$CRLBFCL.CACRLBFCresco Labs Inc.
$CRONCRON.TOCRONCronos Group Inc
$CURLFCURA.CACURLFCuraleaf Holdings, Inc.
$VRNDFNINE.VVRNDFDelta 9 Cannabis Inc
$EMHTFEMH.VEMHTFEmerald Health Therapeutics
$EEVVFEVE.VEEVVFEve & Co Inc
$FLWPFFLWR.VFLWPFFlowr Corp
$CANNCANNGeneral Cannabis Corp
$GGBXFGGB.CAGGBXFGreen Growth Brand
$TGOD.CA$TGODFTGOD.TOTGODFGreen Organic Dutchman
$GTBIFGTII.CAGTBIFGreen Thumb Industries Inc.
$GGTTFGTEC.VGGTTFGTEC Holdings
$GWPHGWPHGW Pharmaceuticals PLC
$HRVOFHVT.VHRVOFHarvest One Cannabis
$HEXO.CA$HEXOHEXO.TOHEXOHexo Corp
$NDVAFNDVA.VNDVAFIndiva Ltd
$IN.CA$IMLFFIN.TOIMLFFInMed Pharmaceuticals
$IIPRIIPRInnovative Industrial Properties Inc
$INSYINSYInsys Therapeutics Inc
$IVITFGENE.VIVITFInvictus MD Strategies Corp
$KHRNFKHRN.VKHRNFKhiron Life Sciences Corp
$KSHBKSHBKush Bottles Inc
$MEDIFLABS.VMEDIFMediPharm Labs Corp.
$MMNFFMMEN.CAMMNFFMedmen Enterprises
$NXTTFN.VNXTTFNamaste Technologies Inc.
$NACNFMETA.VNACNFNational Access Cannabis Corp
$NWKRFHIP.VNWKRFNewstrike Brands
$OGIOGI.VOGIOrganigram Holdings Inc
$PCLO.CA$PHCEFPCLO.VPHCEFPharmacielo Ltd
$RLLRFSUGR.VRLLRFSugarBud Craft Growers Corp
$SNNVFSNN.CASNNVFSunniva Inc.
$SPRWFFIRE.TOSPRWFSupreme Cannabis Company
$TBPMFTBP.VTBPMFTetra Bio Pharma Inc
$TLRYTLRYTilray Inc
$TCNNFTRUL.CATCNNFTrulieve Cannabis Corp.
$VVCIFVIVO.VVVCIFVivo Cannabis Inc
$WDDMFWMD.VWDDMFWeedMD Inc
$WSLFFWL.VWSLFFWestleaf Inc
$ZBISFZENA.VZBISFZenabis Global Inc
$ZYNEZYNEZynerba Pharmaceuticals Inc

 

EXHIBIT B (S&P 50)

US tickerCompany Name
ABTAbbott Laboratories
ABBVAbbVie
ACNAccenture
ADBEAdobe Systems
GOOGLAlphabet
AMZNAmazon.com
AAPLApple
TAT&T
BACBank of America
BRKBBerkshire Hathaway
BABoeing Company (The)
AVGOBroadcom Limited
CVXChevron Corporation
CSCOCisco Systems
CCitigroup
KOCoca-Cola Company (The)
CMCSAComcast Corporation
COSTCostco Wholesale Corporation
LLYEli Lilly and Company
XOMExxon Mobil Corporation
FBFacebook
HDHome Depot (The)
HONHoneywell International
INTCIntel Corporation
IBMInternational Business Machines Corp
JNJJohnson & Johnson
JPMJP Morgan Chase & Company
MAMasterCard
MCDMcDonald’s Corporation
MDTMedtronic PLC
MRKMerck and Company
MSFTMicrosoft Corporation
NFLXNetflix
NKENike
ORCLOracle Corporation
PYPLPayPal Holdings
PEPPepsiCo
PFEPfizer
PMPhilip Morris International
PGProcter & Gamble Company
CRMsalesforce.com, inc.
TMOThermo Fisher Scientific Inc.
UNPUnion Pacific
UNHUnitedHealth Group
UTXUnited Technologies Corporation
VZVerizon Communications
VVisa
WMTWal-Mart Stores
DISWalt Disney Company (The)
WFCWells Fargo

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 about 5,100 companies to get relative rankings of any stock against the Universe or perhaps its sector or within any peer group that we choose such as a portfolio or a group of stocks in an industry like cannabis.

On the fundamentals data that 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
GrowthY/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
ValuationConsensus 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
ProfitabilityEstimated Net Income-to-Sales
Estimated EBITDA-to-Sales
50 = 0% profit margin for each measure
P/EEstimated 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

.

Exhibit 1 is of Growth.

From the description of the Fundamentals algorithm, you will note 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 Cannabis Wheaton Income Corp having a 100 score for Growth and hence receiving a T1 (tied for #1) ranking.

But you will also see that 22 of the Cannabis 50 beat the Growth scores of any S&P 50 company. That is particularly notable in that almost no cannabis company has much in the way of earnings. That result reflects the explosive revenue growth in the cannabis industry, but also in the reduction in the size of the financial losses, which contributes to a higher score.

Growth (Exhibit 1)PeergroupScoreUniverse rank (4238)
CBWTFCannabis Wheaton Income Corp.Cannabis1001
IIPRInnovative Industrial Properties IncCannabis90.3236
SPRWFSupreme Cannabis Company,Cannabis85.8254
EEVVFEve & Co IncCannabis85.1360
PHCEFPharmacielo LtdCannabis83.3681
APHAAphria Inc.Cannabis81.36102
CRLBFCresco Labs Inc.Cannabis79.87123
KSHBKush Bottles IncCannabis79.32131
EMHTFEmerald Health TherapeuticsCannabis78.82141
GGBXFGreen Growth BrandCannabis78.57147
GTBIFGreen Thumb Industries Inc.Cannabis78.14150
CTSTCannTrust Holdings IncCannabis78.05152
ZBISFZenabis Global IncCannabis77.57166
SNNVFSunniva Inc.Cannabis77.20177
FLWPFFlowr CorpCannabis75.85222
HEXOHexo CorpCannabis72.44312
KHRNFKhiron Life Sciences CorpCannabis72.44313
IVITFInvictus MD Strategies CorpCannabis71.63328
TGODFGreen Organic DutchmanCannabis70.49355
ACRGFAcreage HoldingsCannabis68.88399
MEDIFMediPharm Labs Corp.Cannabis66.87473
VVCIFVivo Cannabis IncCannabis66.27505
NFLXNetflixS&P500-Top5065.21548
FBFacebookS&P500-Top5061.91744
CRMsalesforce.com, inc.S&P500-Top5061.28795
BABoeing Company (The)S&P500-Top5061.11811
ADBEAdobe SystemsS&P500-Top5060.74840
CWBHFCharlotte’s WebCannabis60.69844
AMZNAmazon.comS&P500-Top5060.36877
PYPLPayPal HoldingsS&P500-Top5059.39970
CGCCanopy Growth CorporationCannabis59.071003
GOOGLAlphabetS&P500-Top5058.991013
MMNFFMedmen EnterprisesCannabis58.761037
ACBAurora CannabisCannabis58.461090
BRKBBerkshire HathawayS&P500-Top5058.271116
MAMasterCardS&P500-Top5057.211277
CURLFCuraleaf Holdings, Inc.Cannabis57.131289
GWPHGW Pharmaceuticals PLCCannabis57.021309
UTXUnited Technologies CorporationS&P500-Top5056.411444
VVisaS&P500-Top5056.291466
MSFTMicrosoft CorporationS&P500-Top5056.221485
TLRYTilray IncCannabis56.081515
VRNDFDelta 9 Cannabis IncCannabis55.261733
AVGOBroadcom LimitedS&P500-Top5055.191753
CCitigroupS&P500-Top5055.111775
DISWalt Disney Company (The)S&P500-Top5054.981804
NKENikeS&P500-Top5054.891829
CMCSAComcast CorporationS&P500-Top5054.761863
OGRMFOrganigram Holdings IncCannabis54.182054
JPMJP Morgan Chase & CompanyS&P500-Top5054.142069
CRONCronos Group IncCannabis54.102087
ACNAccentureS&P500-Top5054.092089
COSTCostco Wholesale CorporationS&P500-Top5053.942140
UNPUnion PacificS&P500-Top5053.782204
BACBank of AmericaS&P500-Top5053.442340
INSYInsys Therapeutics IncCannabis53.342386
TCNNFTrulieve Cannabis Corp.Cannabis53.272409
KOCoca-Cola Company (The)S&P500-Top5053.122467
XOMExxon Mobil CorporationS&P500-Top5052.542689
CSCOCisco SystemsS&P500-Top5052.492708
PGProcter & Gamble CompanyS&P500-Top5052.252808
PEPPepsiCoS&P500-Top5052.202836
HDHome Depot (The)S&P500-Top5052.172846
PMPhilip Morris InternationalS&P500-Top5052.132868
ZYNEZynerba Pharmaceuticals IncCannabis52.002918
AAPLAppleS&P500-Top5051.962930
CNPOFCanopy Rivers IncCannabis51.922946
TAT&TS&P500-Top5051.703021
ORCLOracle CorporationS&P500-Top5051.653038
WMTWal-Mart StoresS&P500-Top5051.453117
MCDMcDonald’s CorporationS&P500-Top5051.083225
INTCIntel CorporationS&P500-Top5051.033241
UNHUnitedHealth GroupS&P500-Top5050.863294
VZVerizon CommunicationsS&P500-Top5050.813313
ABTAbbott LaboratoriesS&P500-Top5050.743347
MRKMerck and CompanyS&P500-Top5050.713362
TMOThermo Fisher Scientific Inc.S&P500-Top5050.663380
LLYEli Lilly and CompanyS&P500-Top5050.653391
ABBVAbbVieS&P500-Top5050.503429
MDTMedtronic PLCS&P500-Top5050.423454
CVXChevron CorporationS&P500-Top5050.403460
JNJJohnson & JohnsonS&P500-Top5050.373469
PFEPfizerS&P500-Top5050.213503
WFCWells FargoS&P500-Top5047.253668
HONHoneywell InternationalS&P500-Top5046.493695
CRBPCorbus Pharmaceuticals Holdings IncCannabis46.373698
IBMInternational Business Machines CorpS&P500-Top5042.823813
IMLFFInMed PharmaceuticalsCannabis21.594143
TBPMFTetra Bio Pharma IncCannabisNAN/A
RLLRFSugarBud Craft Growers CorpCannabisNAN/A
NWKRFNewstrike BrandsCannabisNAN/A
NXTTFNamaste Technologies Inc.CannabisNAN/A
NCNNF48North Cannabis CorpCannabisNAN/A
NDVAFIndiva LtdCannabisNAN/A
GGTTFGTEC HoldingsCannabisNAN/A
NACNFNational Access Cannabis CorpCannabisNAN/A
CANNGeneral Cannabis CorpCannabisNAN/A
WSLFFWestleaf IncCannabisNAN/A
WDDMFWeedMD IncCannabisNAN/A
HRVOFHarvest One CannabisCannabisNAN/A

Of the 50 cannabis companies, there was insufficient data to calculate scores on 12. But of the 38 we were able to score, fully 36 of these companies scored more than 50.0, and 15 of the 50 scored higher than 75.0, which is extraordinary. Growth is the reason so many investors are watching the cannabis industry closely.

The lowest Growth score that we would deem acceptable for investment was probably Charlotte’s Web at 60.69, which stood at 844 out of 4,238 ranked companies this week (May 24 data). Note also that we tightened up our scoring system this week.

Note that the database universe is almost 5100 companies but the scoring universe for each exhibited criterion is less than 5100 because the reported data from the companies and/or the analysts was insufficient for our purposes. 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 in that case dividends are not paid by these fast growth companies.

Exhibit 2 is for Price-Earnings Growth.

Earnings matter but these scores are based largely on analyst estimates, which are highly influenced by company guidance and reflect the lessening of projected financial losses. However, when subsequent operating results fail to meet consensus estimates, which for cannabis are truly mostly guesswork, the stock prices get hammered.

As we continue to say, cannabis companies can either walk the talk that investors are led to expect, or they cannot. Because of ego and over-striving by management, most companies try and fail.

PEG (Exhibit 2)PeergroupScoreUniverse rank (3596)
SNNVFSunniva Inc.Cannabis1001
IVITFInvictus MD Strategies CorpCannabis1001
EEVVFEve & Co IncCannabis99.9391
APHAAphria Inc.Cannabis99.53104
GTBIFGreen Thumb Industries Inc.Cannabis98.93130
GGBXFGreen Growth BrandCannabis98.89132
ZBISFZenabis Global IncCannabis98.29148
CRLBFCresco Labs Inc.Cannabis98.11162
VRNDFDelta 9 Cannabis IncCannabis96.45228
IIPRInnovative Industrial Properties IncCannabis94.99273
HEXOHexo CorpCannabis94.08313
MEDIFMediPharm Labs Corp.Cannabis93.77319
CRONCronos Group IncCannabis93.25332
CWBHFCharlotte’s WebCannabis91.95375
EMHTFEmerald Health TherapeuticsCannabis90.55407
TCNNFTrulieve Cannabis Corp.Cannabis89.84421
CTSTCannTrust Holdings IncCannabis88.28472
OGRMFOrganigram Holdings IncCannabis86.51533
CURLFCuraleaf Holdings, Inc.Cannabis79.35743
ACRGFAcreage HoldingsCannabis77.36801
SPRWFSupreme Cannabis Company,Cannabis77.33802
FLWPFFlowr CorpCannabis74.89876
CCitigroupS&P500-Top5074.46891
AVGOBroadcom LimitedS&P500-Top5072.92942
FBFacebookS&P500-Top5068.801077
BABoeing Company (The)S&P500-Top5068.021091
CMCSAComcast CorporationS&P500-Top5067.341112
VVCIFVivo Cannabis IncCannabis66.931134
UNHUnitedHealth GroupS&P500-Top5061.931285
ABBVAbbVieS&P500-Top5060.601317
GOOGLAlphabetS&P500-Top5055.651463
MRKMerck and CompanyS&P500-Top5050.921596
BACBank of AmericaS&P500-Top5050.511607
ADBEAdobe SystemsS&P500-Top5049.831658
AMZNAmazon.comS&P500-Top5049.091816
JPMJP Morgan Chase & CompanyS&P500-Top5048.861857
WFCWells FargoS&P500-Top5048.381924
PYPLPayPal HoldingsS&P500-Top5048.361929
NFLXNetflixS&P500-Top5048.091972
MAMasterCardS&P500-Top5047.952003
VVisaS&P500-Top5047.762038
MSFTMicrosoft CorporationS&P500-Top5047.692048
CSCOCisco SystemsS&P500-Top5047.562070
ORCLOracle CorporationS&P500-Top5047.322113
UTXUnited Technologies CorporationS&P500-Top5047.012162
UNPUnion PacificS&P500-Top5047.012164
NKENikeS&P500-Top5046.602239
ABTAbbott LaboratoriesS&P500-Top5046.462263
CRMsalesforce.com, inc.S&P500-Top5046.442264
XOMExxon Mobil CorporationS&P500-Top5046.402270
AAPLAppleS&P500-Top5045.902334
DISWalt Disney Company (The)S&P500-Top5045.782352
TMOThermo Fisher Scientific Inc.S&P500-Top5045.232413
TAT&TS&P500-Top5044.972435
BRKBBerkshire HathawayS&P500-Top5044.722471
CNPOFCanopy Rivers IncCannabis44.602482
ACNAccentureS&P500-Top5044.582483
LLYEli Lilly and CompanyS&P500-Top5043.962534
MDTMedtronic PLCS&P500-Top5042.572629
PMPhilip Morris InternationalS&P500-Top5041.802661
HDHome Depot (The)S&P500-Top5041.652676
COSTCostco Wholesale CorporationS&P500-Top5041.612680
CVXChevron CorporationS&P500-Top5040.332746
JNJJohnson & JohnsonS&P500-Top5040.012758
KOCoca-Cola Company (The)S&P500-Top5038.852803
PGProcter & Gamble CompanyS&P500-Top5035.852903
INTCIntel CorporationS&P500-Top5034.772922
PEPPepsiCoS&P500-Top5034.762924
VZVerizon CommunicationsS&P500-Top5032.142970
MCDMcDonald’s CorporationS&P500-Top5031.572980
PFEPfizerS&P500-Top5027.643028
WMTWal-Mart StoresS&P500-Top5024.693053
HONHoneywell InternationalS&P500-Top5013.283115
IBMInternational Business Machines CorpS&P500-Top5003153
CBWTFCannabis Wheaton Income Corp.CannabisNAN/A
PHCEFPharmacielo LtdCannabisNAN/A
KSHBKush Bottles IncCannabisNAN/A
KHRNFKhiron Life Sciences CorpCannabisNAN/A
TGODFGreen Organic DutchmanCannabisNAN/A
CGCCanopy Growth CorporationCannabisNAN/A
MMNFFMedmen EnterprisesCannabisNAN/A
ACBAurora CannabisCannabisNAN/A
GWPHGW Pharmaceuticals PLCCannabisNAN/A
TLRYTilray IncCannabisNAN/A
INSYInsys Therapeutics IncCannabisNAN/A
ZYNEZynerba Pharmaceuticals IncCannabisNAN/A
CRBPCorbus Pharmaceuticals Holdings IncCannabisNAN/A
IMLFFInMed PharmaceuticalsCannabisNAN/A
TBPMFTetra Bio Pharma IncCannabisNAN/A
RLLRFSugarBud Craft Growers CorpCannabisNAN/A
NWKRFNewstrike BrandsCannabisNAN/A
NXTTFNamaste Technologies Inc.CannabisNAN/A
NCNNF48North Cannabis CorpCannabisNAN/A
NDVAFIndiva LtdCannabisNAN/A
GGTTFGTEC HoldingsCannabisNAN/A
NACNFNational Access Cannabis CorpCannabisNAN/A
CANNGeneral Cannabis CorpCannabisNAN/A
WSLFFWestleaf IncCannabisNAN/A
WDDMFWeedMD IncCannabisNAN/A
HRVOFHarvest One CannabisCannabisNAN/A

The highest scored companies for PEG scores were Sunniva Inc. (SNNVF), Invictus MD Strategies Corp (IVITF) and Eve & Co Inc (EEVVF), which was like the scores of a week earlier.

Aphria jumped up, followed by last week’s next group of leaders: Green Thumb Industries Inc. (GTBIF), Green Growth Brand (GGBXF) and Zenabis Global Inc (ZBISF).

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. However, analysis of all the data results in anomalies in some categories that require deeper analysis.

We have noted previously that some of profit-generating cannabis companies are being acquired by larger companies for accretive valuation reasons. In any case, profits will come from a lower cost of production and (probably) rising revenues and by delivering products that consumers want.

Exhibit 3 is for EPS Revisions.

Once again, 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.

In any case, many cannabis companies top the leader board.

Many also, cannot be scored.

EPS
Revisions (Exhibit 3)
PeergroupScoreUniverse rank (4245)
INSYInsys Therapeutics IncCannabis98.36126
CGCCanopy Growth CorporationCannabis86.99189
FLWPFFlowr CorpCannabis80.42235
CTSTCannTrust Holdings IncCannabis71.42340
CRBPCorbus Pharmaceuticals Holdings IncCannabis70.63356
ZBISFZenabis Global IncCannabis67.45408
HEXOHexo CorpCannabis67.22413
IIPRInnovative Industrial Properties IncCannabis63.32496
IMLFFInMed PharmaceuticalsCannabis62.27527
MEDIFMediPharm Labs Corp.Cannabis59.80617
CWBHFCharlotte’s WebCannabis57.93696
TCNNFTrulieve Cannabis Corp.Cannabis57.51716
JPMJP Morgan Chase & CompanyS&P500-Top5057.42721
CMCSAComcast CorporationS&P500-Top5057.41723
KHRNFKhiron Life Sciences CorpCannabis56.02826
CVXChevron CorporationS&P500-Top5055.66847
COSTCostco Wholesale CorporationS&P500-Top5054.08992
CCitigroupS&P500-Top5053.711036
TGODFGreen Organic DutchmanCannabis52.851146
MSFTMicrosoft CorporationS&P500-Top5052.611191
VZVerizon CommunicationsS&P500-Top5052.281234
ORCLOracle CorporationS&P500-Top5052.181261
HONHoneywell InternationalS&P500-Top5052.111270
PYPLPayPal HoldingsS&P500-Top5051.711354
WMTWal-Mart StoresS&P500-Top5051.661365
LLYEli Lilly and CompanyS&P500-Top5051.141482
FBFacebookS&P500-Top5051.121488
UTXUnited Technologies CorporationS&P500-Top5051.001516
ACNAccentureS&P500-Top5050.951525
VVisaS&P500-Top5050.811566
CSCOCisco SystemsS&P500-Top5050.801573
MRKMerck and CompanyS&P500-Top5050.791575
BRKBBerkshire HathawayS&P500-Top5050.661627
MAMasterCardS&P500-Top5050.651629
AVGOBroadcom LimitedS&P500-Top5050.621639
PEPPepsiCoS&P500-Top5050.621640
UNPUnion PacificS&P500-Top5050.541658
ADBEAdobe SystemsS&P500-Top5050.391706
JNJJohnson & JohnsonS&P500-Top5050.321734
TMOThermo Fisher Scientific Inc.S&P500-Top5050.241767
ABBVAbbVieS&P500-Top5050.231770
TAT&TS&P500-Top5050.101820
KOCoca-Cola Company (The)S&P500-Top5050.101821
ABTAbbott LaboratoriesS&P500-Top5050.091826
UNHUnitedHealth GroupS&P500-Top5050.091829
MDTMedtronic PLCS&P500-Top5050.071837
AAPLAppleS&P500-Top5050.021853
EMHTFEmerald Health TherapeuticsCannabis50.001859
CURLFCuraleaf Holdings, Inc.Cannabis50.001859
WDDMFWeedMD IncCannabis50.001859
IBMInternational Business Machines CorpS&P500-Top5049.991958
HDHome Depot (The)S&P500-Top5049.802041
PGProcter & Gamble CompanyS&P500-Top5049.762056
PFEPfizerS&P500-Top5049.682083
CRMsalesforce.com, inc.S&P500-Top5049.312238
MCDMcDonald’s CorporationS&P500-Top5049.302242
AMZNAmazon.comS&P500-Top5049.162294
XOMExxon Mobil CorporationS&P500-Top5049.042338
GOOGLAlphabetS&P500-Top5048.742432
NKENikeS&P500-Top5047.832632
INTCIntel CorporationS&P500-Top5047.642677
BACBank of AmericaS&P500-Top5047.382738
DISWalt Disney Company (The)S&P500-Top5045.323062
NFLXNetflixS&P500-Top5044.093184
PMPhilip Morris InternationalS&P500-Top5043.753217
BABoeing Company (The)S&P500-Top5042.433322
HRVOFHarvest One CannabisCannabis41.973361
ACRGFAcreage HoldingsCannabis40.923430
OGRMFOrganigram Holdings IncCannabis40.863435
SPRWFSupreme Cannabis Company,Cannabis40.413470
ZYNEZynerba Pharmaceuticals IncCannabis39.003541
WFCWells FargoS&P500-Top5038.013590
CRONCronos Group IncCannabis36.403650
CBWTFCannabis Wheaton Income Corp.Cannabis28.593844
CNPOFCanopy Rivers IncCannabis27.373866
TLRYTilray IncCannabis27.293869
VRNDFDelta 9 Cannabis IncCannabis26.603881
KSHBKush Bottles IncCannabis21.883952
ACBAurora CannabisCannabis20.103978
GWPHGW Pharmaceuticals PLCCannabis19.673984
GTBIFGreen Thumb Industries Inc.Cannabis13.744045
APHAAphria Inc.Cannabis11.974061
VVCIFVivo Cannabis IncCannabis1.724124
MMNFFMedmen EnterprisesCannabis04133
SNNVFSunniva Inc.CannabisNAN/A
IVITFInvictus MD Strategies CorpCannabisNAN/A
EEVVFEve & Co IncCannabisNAN/A
GGBXFGreen Growth BrandCannabisNAN/A
CRLBFCresco Labs Inc.CannabisNAN/A
PHCEFPharmacielo LtdCannabisNAN/A
TBPMFTetra Bio Pharma IncCannabisNAN/A
RLLRFSugarBud Craft Growers CorpCannabisNAN/A
NWKRFNewstrike BrandsCannabisNAN/A
NXTTFNamaste Technologies Inc.CannabisNAN/A
NCNNF48North Cannabis CorpCannabisNAN/A
NDVAFIndiva LtdCannabisNAN/A
GGTTFGTEC HoldingsCannabisNAN/A
NACNFNational Access Cannabis CorpCannabisNAN/A
CANNGeneral Cannabis CorpCannabisNAN/A
WSLFFWestleaf IncCannabisNAN/A

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 a 2813 ranking in 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.

Exhibit 4 is for Revenue Revisions.

Of the 83 companies that we were able to score on this basis, from a universe of 4142 companies, there were five with the maximum 100 score. Of these, take note that if the company was not Disney and produced the film named Avengers, the S&P 50 did not make it into the Top 13.

McDonalds was next at #14, followed by two more cannabis companies and then Apple, salesforce, Microsoft and Boeing. But that’s still 15 of the Cannabis 50 that were flying higher than Boeing.

The four cannabis leaders were: MediPharm Labs Corp. (MEDIF), Emerald Health Therapeutics (EMHTF), Curaleaf Holdings (CURLF), and Kush Bottles (KSHB).

Note that we are using the US ticker symbols. Most of the Cannabis 50 are also traded in Canada with different ticker symbols.

Revenue
Revisions (Exhibit 4)
PeergroupScoreUniverse rank (4142)
MEDIFMediPharm Labs Corp.Cannabis1001
EMHTFEmerald Health TherapeuticsCannabis1001
CURLFCuraleaf Holdings, Inc.Cannabis1001
DISWalt Disney Company (The)S&P500-Top501001
KSHBKush Bottles IncCannabis1001
HEXOHexo CorpCannabis90.80156
CRLBFCresco Labs Inc.Cannabis89.94161
IIPRInnovative Industrial Properties IncCannabis84.00199
CRBPCorbus Pharmaceuticals Holdings IncCannabis81.17222
FLWPFFlowr CorpCannabis72.24321
GWPHGW Pharmaceuticals PLCCannabis70.57351
CWBHFCharlotte’s WebCannabis64.00497
TLRYTilray IncCannabis63.12522
MCDMcDonald’s CorporationS&P500-Top5056.64814
KHRNFKhiron Life Sciences CorpCannabis55.93858
ZYNEZynerba Pharmaceuticals IncCannabis55.82866
AAPLAppleS&P500-Top5055.48888
CRMsalesforce.com, inc.S&P500-Top5055.35900
MSFTMicrosoft CorporationS&P500-Top5054.62977
BABoeing Company (The)S&P500-Top5054.53985
TCNNFTrulieve Cannabis Corp.Cannabis54.43993
HONHoneywell InternationalS&P500-Top5053.821051
AVGOBroadcom LimitedS&P500-Top5053.741062
FBFacebookS&P500-Top5053.711065
ACRGFAcreage HoldingsCannabis52.771188
CSCOCisco SystemsS&P500-Top5052.741191
GTBIFGreen Thumb Industries Inc.Cannabis51.761342
ACNAccentureS&P500-Top5051.711351
UTXUnited Technologies CorporationS&P500-Top5051.591366
VVisaS&P500-Top5051.261439
PGProcter & Gamble CompanyS&P500-Top5051.181453
PEPPepsiCoS&P500-Top5051.141463
TMOThermo Fisher Scientific Inc.S&P500-Top5051.091477
OGRMFOrganigram Holdings IncCannabis50.971503
NKENikeS&P500-Top5050.861540
JPMJP Morgan Chase & CompanyS&P500-Top5050.821555
ADBEAdobe SystemsS&P500-Top5050.721575
KOCoca-Cola Company (The)S&P500-Top5050.631598
ABTAbbott LaboratoriesS&P500-Top5050.381660
MMNFFMedmen EnterprisesCannabis50.281698
COSTCostco Wholesale CorporationS&P500-Top5050.181737
MRKMerck and CompanyS&P500-Top5050.101763
JNJJohnson & JohnsonS&P500-Top5050.081769
ZBISFZenabis Global IncCannabis50.001795
WDDMFWeedMD IncCannabis50.001795
ABBVAbbVieS&P500-Top5049.991907
APHAAphria Inc.Cannabis49.961919
UNHUnitedHealth GroupS&P500-Top5049.931932
PFEPfizerS&P500-Top5049.901948
AMZNAmazon.comS&P500-Top5049.791972
MAMasterCardS&P500-Top5049.791973
BRKBBerkshire HathawayS&P500-Top5049.761985
NFLXNetflixS&P500-Top5049.692004
PYPLPayPal HoldingsS&P500-Top5049.532053
CMCSAComcast CorporationS&P500-Top5049.532058
MDTMedtronic PLCS&P500-Top5049.472071
VZVerizon CommunicationsS&P500-Top5049.282125
CCitigroupS&P500-Top5048.792223
ORCLOracle CorporationS&P500-Top5047.742402
HDHome Depot (The)S&P500-Top5047.672416
TAT&TS&P500-Top5047.242490
HRVOFHarvest One CannabisCannabis47.142507
IBMInternational Business Machines CorpS&P500-Top5046.992535
CTSTCannTrust Holdings IncCannabis46.792557
XOMExxon Mobil CorporationS&P500-Top5046.112654
WMTWal-Mart StoresS&P500-Top5045.762700
CGCCanopy Growth CorporationCannabis45.422751
LLYEli Lilly and CompanyS&P500-Top5044.322867
UNPUnion PacificS&P500-Top5043.522965
GOOGLAlphabetS&P500-Top5042.473077
BACBank of AmericaS&P500-Top5042.263090
INTCIntel CorporationS&P500-Top5041.713144
ACBAurora CannabisCannabis41.483164
CNPOFCanopy Rivers IncCannabis36.123482
INSYInsys Therapeutics IncCannabis35.783494
WFCWells FargoS&P500-Top5033.603578
CRONCronos Group IncCannabis33.023600
VRNDFDelta 9 Cannabis IncCannabis32.963602
TGODFGreen Organic DutchmanCannabis32.773606
CVXChevron CorporationS&P500-Top5031.353645
VVCIFVivo Cannabis IncCannabis25.293791
PMPhilip Morris InternationalS&P500-Top5023.113823
SPRWFSupreme Cannabis Company,Cannabis2.444001
CBWTFCannabis Wheaton Income Corp.Cannabis04020
IMLFFInMed PharmaceuticalsCannabisNAN/A
SNNVFSunniva Inc.CannabisNAN/A
IVITFInvictus MD Strategies CorpCannabisNAN/A
EEVVFEve & Co IncCannabisNAN/A
GGBXFGreen Growth BrandCannabisNAN/A
PHCEFPharmacielo LtdCannabisNAN/A
TBPMFTetra Bio Pharma IncCannabisNAN/A
RLLRFSugarBud Craft Growers CorpCannabisNAN/A
NWKRFNewstrike BrandsCannabisNAN/A
NXTTFNamaste Technologies Inc.CannabisNAN/A
NCNNF48North Cannabis CorpCannabisNAN/A
NDVAFIndiva LtdCannabisNAN/A
GGTTFGTEC HoldingsCannabisNAN/A
NACNFNational Access Cannabis CorpCannabisNAN/A
CANNGeneral Cannabis CorpCannabisNAN/A
WSLFFWestleaf IncCannabisNAN/A

There were 17 out of the Cannabis 50 that we could score and rank on the basis of Revenue Revisions.

Exhibit 5 is for Valuation, which we based on the consensus analyst estimates of Enterprise Value (EV) to EBITDA and EV to Sales.

Five of the 100 companies in the study that topped the Valuation factor board were cannabis companies, which was a bit surprising. However, if investors continue to sell off their cannabis holdings as they have been, then Valuation does become more attractive.

Insys Therapeutics (INSY), Invictus MD Strategies Corp (IVITF), Delta 9 Cannabis (VRNDF), WeedMD (WDDMF) and Harvest One (HRVOF) are now up there with the likes of UnitedHealth (UNH), Berkshire Hathaway (BRKB) and Wal-Mart (WMT) in terms of Valuation attractiveness.

Valuation (Exhibit 5)PeergroupScoreUniverse rank (4908)
INSYInsys Therapeutics IncCannabis10091
IVITFInvictus MD Strategies CorpCannabis92.05266
VRNDFDelta 9 Cannabis IncCannabis86.61443
WDDMFWeedMD IncCannabis80.89696
HRVOFHarvest One CannabisCannabis75.97953
UNHUnitedHealth GroupS&P500-Top5075.50970
BRKBBerkshire HathawayS&P500-Top5075.19981
WMTWal-Mart StoresS&P500-Top5068.251390
GGBXFGreen Growth BrandCannabis67.951419
ZBISFZenabis Global IncCannabis64.941635
ABBVAbbVieS&P500-Top5064.411663
EEVVFEve & Co IncCannabis62.971769
IBMInternational Business Machines CorpS&P500-Top5062.451812
INTCIntel CorporationS&P500-Top5061.921849
XOMExxon Mobil CorporationS&P500-Top5060.131982
CVXChevron CorporationS&P500-Top5059.152060
COSTCostco Wholesale CorporationS&P500-Top5058.112139
PFEPfizerS&P500-Top5056.542248
JNJJohnson & JohnsonS&P500-Top5056.252269
MRKMerck and CompanyS&P500-Top5055.832301
VVCIFVivo Cannabis IncCannabis55.712315
MDTMedtronic PLCS&P500-Top5054.412404
TCNNFTrulieve Cannabis Corp.Cannabis53.562474
CBWTFCannabis Wheaton Income Corp.Cannabis53.162512
AAPLAppleS&P500-Top5052.372581
ABTAbbott LaboratoriesS&P500-Top5051.572659
TMOThermo Fisher Scientific Inc.S&P500-Top5051.052712
WFCWells FargoS&P500-Top5049.872855
LLYEli Lilly and CompanyS&P500-Top5049.852860
NACNFNational Access Cannabis CorpCannabis49.822865
KHRNFKhiron Life Sciences CorpCannabis49.822869
CWBHFCharlotte’s WebCannabis49.772894
CURLFCuraleaf Holdings, Inc.Cannabis49.742901
TAT&TS&P500-Top5049.682916
BACBank of AmericaS&P500-Top5049.632929
SNNVFSunniva Inc.Cannabis49.502969
ACRGFAcreage HoldingsCannabis49.402991
JPMJP Morgan Chase & CompanyS&P500-Top5049.333010
OGRMFOrganigram Holdings IncCannabis49.293021
VZVerizon CommunicationsS&P500-Top5049.243028
MEDIFMediPharm Labs Corp.Cannabis49.093066
APHAAphria Inc.Cannabis49.063077
EMHTFEmerald Health TherapeuticsCannabis49.063078
HEXOHexo CorpCannabis48.913109
TLRYTilray IncCannabis48.693153
ACNAccentureS&P500-Top5048.583173
GWPHGW Pharmaceuticals PLCCannabis48.453212
MMNFFMedmen EnterprisesCannabis48.373233
CRLBFCresco Labs Inc.Cannabis48.353237
ORCLOracle CorporationS&P500-Top5048.203266
AVGOBroadcom LimitedS&P500-Top5047.763340
RLLRFSugarBud Craft Growers CorpCannabis47.573369
CRBPCorbus Pharmaceuticals Holdings IncCannabis47.303408
FLWPFFlowr CorpCannabis47.223420
CCitigroupS&P500-Top5046.643487
CSCOCisco SystemsS&P500-Top5046.043564
NCNNF48North Cannabis CorpCannabis45.853586
CMCSAComcast CorporationS&P500-Top5045.823591
TGODFGreen Organic DutchmanCannabis45.653612
GOOGLAlphabetS&P500-Top5045.533626
CNPOFCanopy Rivers IncCannabis45.503630
CGCCanopy Growth CorporationCannabis45.283661
KSHBKush Bottles IncCannabis44.753707
UTXUnited Technologies CorporationS&P500-Top5043.833822
ACBAurora CannabisCannabis43.783824
HDHome Depot (The)S&P500-Top5043.653840
NWKRFNewstrike BrandsCannabis43.463855
FBFacebookS&P500-Top5041.054059
ZYNEZynerba Pharmaceuticals IncCannabis40.354099
BABoeing Company (The)S&P500-Top5040.134110
MSFTMicrosoft CorporationS&P500-Top5039.794129
PYPLPayPal HoldingsS&P500-Top5039.214166
PEPPepsiCoS&P500-Top5038.514201
CRMsalesforce.com, inc.S&P500-Top5037.074274
DISWalt Disney Company (The)S&P500-Top5037.074276
AMZNAmazon.comS&P500-Top5035.254356
PHCEFPharmacielo LtdCannabis34.884370
HONHoneywell InternationalS&P500-Top5034.854371
NKENikeS&P500-Top5034.304396
PGProcter & Gamble CompanyS&P500-Top5031.624485
PMPhilip Morris InternationalS&P500-Top5031.054503
ADBEAdobe SystemsS&P500-Top5030.264520
CTSTCannTrust Holdings IncCannabis24.554624
MAMasterCardS&P500-Top5024.304628
UNPUnion PacificS&P500-Top5023.954634
VVisaS&P500-Top5023.394645
SPRWFSupreme Cannabis Company,Cannabis21.774678
CRONCronos Group IncCannabis21.264688
MCDMcDonald’s CorporationS&P500-Top5020.344701
IIPRInnovative Industrial Properties IncCannabis19.934706
KOCoca-Cola Company (The)S&P500-Top5016.484735
NDVAFIndiva LtdCannabis5.434796
NFLXNetflixS&P500-Top503.444809
GTBIFGreen Thumb Industries Inc.Cannabis04827
TBPMFTetra Bio Pharma IncCannabis04827
NXTTFNamaste Technologies Inc.Cannabis04827
GGTTFGTEC HoldingsCannabis04827
CANNGeneral Cannabis CorpCannabis04827
IMLFFInMed PharmaceuticalsCannabisNAN/A
WSLFFWestleaf IncCannabisNAN/A

Exhibit 6 is for the Price-to-Earnings Ratio (PER) .

We were able to score and rank only half of the Cannabis 50 companies on the basis of Price-to-Earning Ratio; however, Invictus MD Strategies Corp (IVITF) was atop the leaderboard and WeedMD Inc (WDDMF) was close at #7.

These two received rankings of 164 and 487 out of the scored universe of 3369 companies, which was quite acceptable.

PER (Exhibit 6)PeergroupScoreUniverse rank (3369)
IVITFInvictus MD Strategies CorpCannabis95.82164
IBMInternational Business Machines CorpS&P500-Top5091.23248
INTCIntel CorporationS&P500-Top5088.59314
ABBVAbbVieS&P500-Top5087.34344
AVGOBroadcom LimitedS&P500-Top5087.13351
TAT&TS&P500-Top5086.97358
WDDMFWeedMD IncCannabis81.72487
CCitigroupS&P500-Top5074.61737
VRNDFDelta 9 Cannabis IncCannabis74.34753
ORCLOracle CorporationS&P500-Top5073.83775
PFEPfizerS&P500-Top5073.75778
AAPLAppleS&P500-Top5072.45828
VZVerizon CommunicationsS&P500-Top5070.56902
JNJJohnson & JohnsonS&P500-Top5069.57940
UNHUnitedHealth GroupS&P500-Top5068.38979
MRKMerck and CompanyS&P500-Top5067.571002
MDTMedtronic PLCS&P500-Top5066.851031
CSCOCisco SystemsS&P500-Top5066.191048
PMPhilip Morris InternationalS&P500-Top5065.921063
EEVVFEve & Co IncCannabis64.661113
WFCWells FargoS&P500-Top5063.891144
BACBank of AmericaS&P500-Top5063.201171
TCNNFTrulieve Cannabis Corp.Cannabis61.991203
LLYEli Lilly and CompanyS&P500-Top5059.271310
CMCSAComcast CorporationS&P500-Top5057.351390
TMOThermo Fisher Scientific Inc.S&P500-Top5054.611507
JPMJP Morgan Chase & CompanyS&P500-Top5053.671547
ABTAbbott LaboratoriesS&P500-Top5050.671656
SNNVFSunniva Inc.Cannabis49.991698
GGBXFGreen Growth BrandCannabis49.811782
CRONCronos Group IncCannabis49.761796
ACNAccentureS&P500-Top5049.761798
FBFacebookS&P500-Top5049.711815
HRVOFHarvest One CannabisCannabis49.691822
GOOGLAlphabetS&P500-Top5049.691823
CVXChevron CorporationS&P500-Top5049.611853
MSFTMicrosoft CorporationS&P500-Top5049.441902
IIPRInnovative Industrial Properties IncCannabis49.301949
VVisaS&P500-Top5049.112006
XOMExxon Mobil CorporationS&P500-Top5049.062020
WMTWal-Mart StoresS&P500-Top5049.022033
UTXUnited Technologies CorporationS&P500-Top5048.912065
MAMasterCardS&P500-Top5048.742116
ADBEAdobe SystemsS&P500-Top5048.572152
APHAAphria Inc.Cannabis48.442173
HDHome Depot (The)S&P500-Top5048.412178
PYPLPayPal HoldingsS&P500-Top5048.282200
OGRMFOrganigram Holdings IncCannabis48.082252
DISWalt Disney Company (The)S&P500-Top5047.762325
CWBHFCharlotte’s WebCannabis47.332411
PEPPepsiCoS&P500-Top5047.162440
UNPUnion PacificS&P500-Top5047.072451
PGProcter & Gamble CompanyS&P500-Top5046.982463
KOCoca-Cola Company (The)S&P500-Top5046.982465
MCDMcDonald’s CorporationS&P500-Top5046.002593
CRMsalesforce.com, inc.S&P500-Top5045.662631
HONHoneywell InternationalS&P500-Top5045.632635
ZBISFZenabis Global IncCannabis45.402661
BABoeing Company (The)S&P500-Top5044.782717
MEDIFMediPharm Labs Corp.Cannabis43.792792
NKENikeS&P500-Top5043.502809
HEXOHexo CorpCannabis42.202879
CNPOFCanopy Rivers IncCannabis40.472946
GTBIFGreen Thumb Industries Inc.Cannabis40.382951
COSTCostco Wholesale CorporationS&P500-Top5040.332955
BRKBBerkshire HathawayS&P500-Top5039.212993
CTSTCannTrust Holdings IncCannabis36.573060
CRLBFCresco Labs Inc.Cannabis35.053095
CURLFCuraleaf Holdings, Inc.Cannabis34.213108
AMZNAmazon.comS&P500-Top5029.073165
VVCIFVivo Cannabis IncCannabis18.923223
EMHTFEmerald Health TherapeuticsCannabis18.293225
NFLXNetflixS&P500-Top5015.543237
ACRGFAcreage HoldingsCannabis3.733273
FLWPFFlowr CorpCannabis1.163276
SPRWFSupreme Cannabis Company,Cannabis03280
INSYInsys Therapeutics IncCannabisNAN/A
CBWTFCannabis Wheaton Income Corp.CannabisNAN/A
NACNFNational Access Cannabis CorpCannabisNAN/A
KHRNFKhiron Life Sciences CorpCannabisNAN/A
TLRYTilray IncCannabisNAN/A
GWPHGW Pharmaceuticals PLCCannabisNAN/A
MMNFFMedmen EnterprisesCannabisNAN/A
RLLRFSugarBud Craft Growers CorpCannabisNAN/A
CRBPCorbus Pharmaceuticals Holdings IncCannabisNAN/A
NCNNF48North Cannabis CorpCannabisNAN/A
TGODFGreen Organic DutchmanCannabisNAN/A
CGCCanopy Growth CorporationCannabisNAN/A
KSHBKush Bottles IncCannabisNAN/A
ACBAurora CannabisCannabisNAN/A
NWKRFNewstrike BrandsCannabisNAN/A
ZYNEZynerba Pharmaceuticals IncCannabisNAN/A
PHCEFPharmacielo LtdCannabisNAN/A
NDVAFIndiva LtdCannabisNAN/A
TBPMFTetra Bio Pharma IncCannabisNAN/A
NXTTFNamaste Technologies Inc.CannabisNAN/A
GGTTFGTEC HoldingsCannabisNAN/A
CANNGeneral Cannabis CorpCannabisNAN/A
IMLFFInMed PharmaceuticalsCannabisNAN/A
WSLFFWestleaf IncCannabisNAN/A

As noted previously, we believe the scores for many cannabis companies have benefited from estimates of 2019 and 2020 earnings that are unlikely to come true.

Exhibit 7 is for Market Cap to forecasted EBITDA.

When looking at EBITDA, where are the earnings? Of the scores we received, none of the cannabis companies would be acceptable on an investment basis. Market prices are simply excessive and there is little to no projected EBITDA.

In any case, of the 100 companies in the study, Delta 9 Cannabis (VRNDF) did rank up at #9 and WeedMD (WDDMF) was #19. Those were excellent rankings.

MV/
EBIT (Exhibit 7)
PeergroupScoreUniverse rank (4031)
CCitigroupS&P500-Top5081.66633
IBMInternational Business Machines CorpS&P500-Top5077.22776
INTCIntel CorporationS&P500-Top5076.80790
WFCWells FargoS&P500-Top5076.02816
BACBank of AmericaS&P500-Top5073.03958
AVGOBroadcom LimitedS&P500-Top5071.89996
ABBVAbbVieS&P500-Top5071.781003
JPMJP Morgan Chase & CompanyS&P500-Top5068.551147
VRNDFDelta 9 Cannabis IncCannabis63.551350
ORCLOracle CorporationS&P500-Top5062.031423
PFEPfizerS&P500-Top5060.821486
AAPLAppleS&P500-Top5056.261705
CMCSAComcast CorporationS&P500-Top5056.241706
UNHUnitedHealth GroupS&P500-Top5054.381804
MRKMerck and CompanyS&P500-Top5053.191861
TAT&TS&P500-Top5052.711882
WMTWal-Mart StoresS&P500-Top5050.401989
WDDMFWeedMD IncCannabis49.952047
JNJJohnson & JohnsonS&P500-Top5049.952048
CSCOCisco SystemsS&P500-Top5049.942051
MDTMedtronic PLCS&P500-Top5049.932053
GOOGLAlphabetS&P500-Top5049.712131
TCNNFTrulieve Cannabis Corp.Cannabis49.672151
FBFacebookS&P500-Top5049.612165
VZVerizon CommunicationsS&P500-Top5049.612166
SNNVFSunniva Inc.Cannabis49.572188
LLYEli Lilly and CompanyS&P500-Top5049.332286
ABTAbbott LaboratoriesS&P500-Top5049.202318
TMOThermo Fisher Scientific Inc.S&P500-Top5049.152336
ACNAccentureS&P500-Top5048.882405
GTBIFGreen Thumb Industries Inc.Cannabis48.662454
MSFTMicrosoft CorporationS&P500-Top5048.532480
UTXUnited Technologies CorporationS&P500-Top5047.652669
OGRMFOrganigram Holdings IncCannabis47.482700
VVisaS&P500-Top5047.462703
ZBISFZenabis Global IncCannabis47.182743
MEDIFMediPharm Labs Corp.Cannabis47.122755
MAMasterCardS&P500-Top5046.752814
CVXChevron CorporationS&P500-Top5046.382862
ADBEAdobe SystemsS&P500-Top5046.122911
PMPhilip Morris InternationalS&P500-Top5045.992930
PYPLPayPal HoldingsS&P500-Top5045.902941
CWBHFCharlotte’s WebCannabis45.363006
CRMsalesforce.com, inc.S&P500-Top5045.083039
ACRGFAcreage HoldingsCannabis44.243127
XOMExxon Mobil CorporationS&P500-Top5044.163131
BRKBBerkshire HathawayS&P500-Top5044.113136
UNPUnion PacificS&P500-Top5043.563177
HDHome Depot (The)S&P500-Top5043.393196
CRLBFCresco Labs Inc.Cannabis43.293213
DISWalt Disney Company (The)S&P500-Top5042.163314
MCDMcDonald’s CorporationS&P500-Top5040.563430
CURLFCuraleaf Holdings, Inc.Cannabis39.203493
HONHoneywell InternationalS&P500-Top5038.593523
BABoeing Company (The)S&P500-Top5037.143598
PEPPepsiCoS&P500-Top5037.033602
AMZNAmazon.comS&P500-Top5032.403716
PGProcter & Gamble CompanyS&P500-Top5031.723724
NKENikeS&P500-Top5030.173741
COSTCostco Wholesale CorporationS&P500-Top5028.233774
KOCoca-Cola Company (The)S&P500-Top5024.233813
CTSTCannTrust Holdings IncCannabis16.393868
IIPRInnovative Industrial Properties IncCannabis5.563913
NFLXNetflixS&P500-Top5003927
IVITFInvictus MD Strategies CorpCannabisNAN/A
EEVVFEve & Co IncCannabisNAN/A
GGBXFGreen Growth BrandCannabisNAN/A
CRONCronos Group IncCannabisNAN/A
HRVOFHarvest One CannabisCannabisNAN/A
APHAAphria Inc.CannabisNAN/A
HEXOHexo CorpCannabisNAN/A
CNPOFCanopy Rivers IncCannabisNAN/A
VVCIFVivo Cannabis IncCannabisNAN/A
EMHTFEmerald Health TherapeuticsCannabisNAN/A
FLWPFFlowr CorpCannabisNAN/A
SPRWFSupreme Cannabis Company,CannabisNAN/A
INSYInsys Therapeutics IncCannabisNAN/A
CBWTFCannabis Wheaton Income Corp.CannabisNAN/A
NACNFNational Access Cannabis CorpCannabisNAN/A
KHRNFKhiron Life Sciences CorpCannabisNAN/A
TLRYTilray IncCannabisNAN/A
GWPHGW Pharmaceuticals PLCCannabisNAN/A
MMNFFMedmen EnterprisesCannabisNAN/A
RLLRFSugarBud Craft Growers CorpCannabisNAN/A
CRBPCorbus Pharmaceuticals Holdings IncCannabisNAN/A
NCNNF48North Cannabis CorpCannabisNAN/A
TGODFGreen Organic DutchmanCannabisNAN/A
CGCCanopy Growth CorporationCannabisNAN/A
KSHBKush Bottles IncCannabisNAN/A
ACBAurora CannabisCannabisNAN/A
NWKRFNewstrike BrandsCannabisNAN/A
ZYNEZynerba Pharmaceuticals IncCannabisNAN/A
PHCEFPharmacielo LtdCannabisNAN/A
NDVAFIndiva LtdCannabisNAN/A
TBPMFTetra Bio Pharma IncCannabisNAN/A
NXTTFNamaste Technologies Inc.CannabisNAN/A
GGTTFGTEC HoldingsCannabisNAN/A
CANNGeneral Cannabis CorpCannabisNAN/A
IMLFFInMed PharmaceuticalsCannabisNAN/A
WSLFFWestleaf IncCannabisNAN/A

Exhibit 8 is related to Book Value.

A quick look through the top half of the 100 companies in the Book Value study, it is hard to miss the huge number of cannabis companies. In fact, one of them, Innovative Industrial Properties Inc (IIPR), received the highest score we give out and 29 of the top 35 are cannabis companies.

In the universe of 5028 scored companies for Book Value, 30 of 50 cannabis companies scored above 50.0, putting them into the Top 40 of 100 in this study. This means that over half the cannabis companies have outstanding book value per share relative to their market valuations.

Book
Value (Exhibit 8)
PeergroupScoreUniverse rank (5028)
HDHome Depot (The)S&P500-Top501001
IIPRInnovative Industrial Properties IncCannabis1001
CBWTFCannabis Wheaton Income Corp.Cannabis91.80175
GGBXFGreen Growth BrandCannabis89.49192
VVCIFVivo Cannabis IncCannabis86.66216
SPRWFSupreme Cannabis Company,Cannabis76.61315
ABBVAbbVieS&P500-Top5074.44350
KSHBKush Bottles IncCannabis74.16358
CANNGeneral Cannabis CorpCannabis73.45369
VRNDFDelta 9 Cannabis IncCannabis67.09560
VZVerizon CommunicationsS&P500-Top5064.99660
EMHTFEmerald Health TherapeuticsCannabis61.57889
TCNNFTrulieve Cannabis Corp.Cannabis61.50896
INSYInsys Therapeutics IncCannabis61.40905
MMNFFMedmen EnterprisesCannabis61.36912
CRLBFCresco Labs Inc.Cannabis61.35913
GTBIFGreen Thumb Industries Inc.Cannabis61.28917
CURLFCuraleaf Holdings, Inc.Cannabis61.20924
TLRYTilray IncCannabis60.141017
WFCWells FargoS&P500-Top5058.331200
NWKRFNewstrike BrandsCannabis57.991238
NACNFNational Access Cannabis CorpCannabis57.641271
IVITFInvictus MD Strategies CorpCannabis57.021352
ACBAurora CannabisCannabis56.741394
WDDMFWeedMD IncCannabis56.441433
EEVVFEve & Co IncCannabis55.941498
APHAAphria Inc.Cannabis55.701537
TAT&TS&P500-Top5055.651546
CWBHFCharlotte’s WebCannabis55.161616
HRVOFHarvest One CannabisCannabis54.941651
CTSTCannTrust Holdings IncCannabis54.131783
NDVAFIndiva LtdCannabis53.881816
SNNVFSunniva Inc.Cannabis53.851824
IBMInternational Business Machines CorpS&P500-Top5053.751844
TGODFGreen Organic DutchmanCannabis53.721854
AVGOBroadcom LimitedS&P500-Top5053.591881
FBFacebookS&P500-Top5052.232104
CRMsalesforce.com, inc.S&P500-Top5052.152116
ACNAccentureS&P500-Top5052.032144
CGCCanopy Growth CorporationCannabis51.432266
DISWalt Disney Company (The)S&P500-Top5050.512430
INTCIntel CorporationS&P500-Top5049.492616
NCNNF48North Cannabis CorpCannabis49.172673
HEXOHexo CorpCannabis49.052692
UTXUnited Technologies CorporationS&P500-Top5048.952703
BRKBBerkshire HathawayS&P500-Top5048.912713
CRBPCorbus Pharmaceuticals Holdings IncCannabis48.402828
GOOGLAlphabetS&P500-Top5048.372834
PMPhilip Morris InternationalS&P500-Top5047.722945
AMZNAmazon.comS&P500-Top5047.263026
CRONCronos Group IncCannabis47.063068
CNPOFCanopy Rivers IncCannabis46.933086
ZYNEZynerba Pharmaceuticals IncCannabis46.933089
MDTMedtronic PLCS&P500-Top5046.683130
GGTTFGTEC HoldingsCannabis46.663134
CMCSAComcast CorporationS&P500-Top5046.353181
ZBISFZenabis Global IncCannabis45.713292
RLLRFSugarBud Craft Growers CorpCannabis45.613309
UNHUnitedHealth GroupS&P500-Top5045.013409
GWPHGW Pharmaceuticals PLCCannabis43.993560
PFEPfizerS&P500-Top5043.983564
XOMExxon Mobil CorporationS&P500-Top5043.583616
FLWPFFlowr CorpCannabis43.513626
JNJJohnson & JohnsonS&P500-Top5042.943692
TMOThermo Fisher Scientific Inc.S&P500-Top5042.923698
ABTAbbott LaboratoriesS&P500-Top5042.593731
PEPPepsiCoS&P500-Top5042.423752
NFLXNetflixS&P500-Top5042.403756
CCitigroupS&P500-Top5042.103786
NXTTFNamaste Technologies Inc.Cannabis41.293869
PHCEFPharmacielo LtdCannabis41.253873
AAPLAppleS&P500-Top5040.953906
OGRMFOrganigram Holdings IncCannabis40.033991
IMLFFInMed PharmaceuticalsCannabis39.454043
KHRNFKhiron Life Sciences CorpCannabis38.484120
COSTCostco Wholesale CorporationS&P500-Top5038.254139
PGProcter & Gamble CompanyS&P500-Top5038.044159
MRKMerck and CompanyS&P500-Top5037.884169
VVisaS&P500-Top5037.134212
MSFTMicrosoft CorporationS&P500-Top5036.194261
HONHoneywell InternationalS&P500-Top5036.094269
WMTWal-Mart StoresS&P500-Top5035.724289
ADBEAdobe SystemsS&P500-Top5035.514300
CVXChevron CorporationS&P500-Top5034.114359
NKENikeS&P500-Top5033.754374
PYPLPayPal HoldingsS&P500-Top5031.624474
KOCoca-Cola Company (The)S&P500-Top5031.354487
UNPUnion PacificS&P500-Top5029.684558
ORCLOracle CorporationS&P500-Top5028.284595
JPMJP Morgan Chase & CompanyS&P500-Top5027.994603
BACBank of AmericaS&P500-Top5025.574653
ACRGFAcreage HoldingsCannabis24.704664
CSCOCisco SystemsS&P500-Top5023.754681
MAMasterCardS&P500-Top5023.324689
MEDIFMediPharm Labs Corp.Cannabis16.314773
TBPMFTetra Bio Pharma IncCannabis14.634795
MCDMcDonald’s CorporationS&P500-Top5010.034837
LLYEli Lilly and CompanyS&P500-Top5004897
BABoeing Company (The)S&P500-Top5004897
WSLFFWestleaf IncCannabisNAN/A

Exhibit 9 is for Profitability.

For Profitability, the best two cannabis companies are Charlotte’s Web (CWBHF) and Innovative Industrial Properties Inc (IIPR), which ranked #537 and #1051 of the 4899 companies we monitored and were able to score this week.

In this list of 100, that ranked these two at #28 and #35, far down the list of superior S&P 50 companies, which is not a good result. Of course, cannabis is a new industry and must manufacture and sell a physical product rather than an electronic service like the Alphabet’s, Broadcom’s and Visa’s.

In any case, I believe that the score for Charlotte’s Web (CWBHF) would be deemed acceptable for investment purposes based on the Profitability factor. And note that it was only a week ago, we wrote: “While just one of the 50 (cannabis) 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.” That other company was a disappointment to their investors this week.

Profitability (Exhibit 9)PeergroupScoreUniverse rank (4899)
AVGOBroadcom LimitedS&P500-Top501001
VVisaS&P500-Top501001
UNPUnion PacificS&P500-Top501001
MAMasterCardS&P500-Top501001
MCDMcDonald’s CorporationS&P500-Top501001
ORCLOracle CorporationS&P500-Top5099.9769
PMPhilip Morris InternationalS&P500-Top5099.3475
KOCoca-Cola Company (The)S&P500-Top5098.3985
FBFacebookS&P500-Top5097.3394
INTCIntel CorporationS&P500-Top5096.79103
ADBEAdobe SystemsS&P500-Top5096.77105
MSFTMicrosoft CorporationS&P500-Top5096.74106
PFEPfizerS&P500-Top5095.18128
MRKMerck and CompanyS&P500-Top5092.78174
JNJJohnson & JohnsonS&P500-Top5091.95188
ABBVAbbVieS&P500-Top5091.83191
CSCOCisco SystemsS&P500-Top5088.88252
VZVerizon CommunicationsS&P500-Top5088.86254
TAT&TS&P500-Top5086.41328
LLYEli Lilly and CompanyS&P500-Top5086.08339
DISWalt Disney Company (The)S&P500-Top5085.55354
MDTMedtronic PLCS&P500-Top5085.15368
PGProcter & Gamble CompanyS&P500-Top5085.00377
AAPLAppleS&P500-Top5084.87381
CMCSAComcast CorporationS&P500-Top5084.24408
GOOGLAlphabetS&P500-Top5083.32449
NFLXNetflixS&P500-Top5082.91482
CWBHFCharlotte’s WebCannabis81.93537
TMOThermo Fisher Scientific Inc.S&P500-Top5079.03711
BACBank of AmericaS&P500-Top5078.47759
PYPLPayPal HoldingsS&P500-Top5078.45763
JPMJP Morgan Chase & CompanyS&P500-Top5078.15791
HONHoneywell InternationalS&P500-Top5077.01882
ABTAbbott LaboratoriesS&P500-Top5076.61937
IIPRInnovative Industrial Properties IncCannabis75.391051
PEPPepsiCoS&P500-Top5075.051091
WFCWells FargoS&P500-Top5075.031092
CRONCronos Group IncCannabis74.681127
CCitigroupS&P500-Top5074.671128
IBMInternational Business Machines CorpS&P500-Top5074.651135
HDHome Depot (The)S&P500-Top5071.541516
OGRMFOrganigram Holdings IncCannabis70.811597
NKENikeS&P500-Top5070.601626
TCNNFTrulieve Cannabis Corp.Cannabis68.241887
ACNAccentureS&P500-Top5067.981917
UTXUnited Technologies CorporationS&P500-Top5067.721951
VRNDFDelta 9 Cannabis IncCannabis66.992042
CRMsalesforce.com, inc.S&P500-Top5066.882053
BABoeing Company (The)S&P500-Top5066.062145
ZBISFZenabis Global IncCannabis65.262237
WDDMFWeedMD IncCannabis62.992509
AMZNAmazon.comS&P500-Top5062.532576
UNHUnitedHealth GroupS&P500-Top5059.502955
MEDIFMediPharm Labs Corp.Cannabis59.342974
CVXChevron CorporationS&P500-Top5059.173002
BRKBBerkshire HathawayS&P500-Top5058.653061
CRLBFCresco Labs Inc.Cannabis57.313230
WMTWal-Mart StoresS&P500-Top5056.993273
XOMExxon Mobil CorporationS&P500-Top5055.993389
COSTCostco Wholesale CorporationS&P500-Top5055.143468
CTSTCannTrust Holdings IncCannabis52.113780
FLWPFFlowr CorpCannabis51.453843
EMHTFEmerald Health TherapeuticsCannabis50.103930
CURLFCuraleaf Holdings, Inc.Cannabis50.003934
EEVVFEve & Co IncCannabis49.973979
GTBIFGreen Thumb Industries Inc.Cannabis49.924007
APHAAphria Inc.Cannabis49.854042
GGBXFGreen Growth BrandCannabis49.814055
SNNVFSunniva Inc.Cannabis49.754073
CNPOFCanopy Rivers IncCannabis49.744080
VVCIFVivo Cannabis IncCannabis49.724083
TLRYTilray IncCannabis49.714087
INSYInsys Therapeutics IncCannabis49.664102
ACBAurora CannabisCannabis49.524120
CGCCanopy Growth CorporationCannabis49.454128
MMNFFMedmen EnterprisesCannabis49.454131
ACRGFAcreage HoldingsCannabis49.284159
RLLRFSugarBud Craft Growers CorpCannabis49.234164
HEXOHexo CorpCannabis49.184177
NWKRFNewstrike BrandsCannabis48.984209
NACNFNational Access Cannabis CorpCannabis48.684253
IVITFInvictus MD Strategies CorpCannabis48.424277
PHCEFPharmacielo LtdCannabis48.014314
GWPHGW Pharmaceuticals PLCCannabis47.704341
CRBPCorbus Pharmaceuticals Holdings IncCannabis46.764399
HRVOFHarvest One CannabisCannabis46.744401
KHRNFKhiron Life Sciences CorpCannabis45.694449
TGODFGreen Organic DutchmanCannabis45.644451
KSHBKush Bottles IncCannabis24.124728
TBPMFTetra Bio Pharma IncCannabis13.164777
SPRWFSupreme Cannabis Company,Cannabis12.574780
NDVAFIndiva LtdCannabis5.184799
CBWTFCannabis Wheaton Income Corp.Cannabis3.144810
GGTTFGTEC HoldingsCannabis0.304820
CANNGeneral Cannabis CorpCannabis04821
ZYNEZynerba Pharmaceuticals IncCannabis04821
NXTTFNamaste Technologies Inc.Cannabis04821
NCNNF48North Cannabis CorpCannabisNAN/A
IMLFFInMed PharmaceuticalsCannabisNAN/A
WSLFFWestleaf IncCannabisNAN/A

Only 14 of the 50 cannabis companies received Profitability scores in the top 50% of companies in the 4899 universe and most were very lowly ranked. Herein lies a problem with a widely held market perception that has been tied to growing capacity for the companies that have cultivation and sales licenses. We have written about 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/black market for low cost of production and product quality.

Investors are wondering why, in many cases, cannabis products are not selling? For some companies, inventory is building simply because knowledgeable clients will not accept poor quality and excessive prices no matter how beautiful the packaging.

In a recent article, we referred to the lack of green (i.e. Net Income and EBITDA dollars). Very few of these companies can walk the talk.

Exhibit 10 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.

Of 5062 companies monitored and scored based on Financial Quality, there were 34 cannabis companies that scored above 50.0, which is a good result. Fully 19 received a score of 70.0 or better, which is outstanding.

If speculators investigate the data here, they will find many to be worthy of a buy-and-hold decision – if the entry position is from low in the price cycle.

Financials (Exhibit 10)PeergroupScoreUniverse rank (5062)
FBFacebookS&P500-Top501001
MEDIFMediPharm Labs Corp.Cannabis1001
CNPOFCanopy Rivers IncCannabis98.90107
CWBHFCharlotte’s WebCannabis94.62188
GWPHGW Pharmaceuticals PLCCannabis91.45260
GOOGLAlphabetS&P500-Top5088.50358
ACNAccentureS&P500-Top5084.45615
WDDMFWeedMD IncCannabis83.72641
CVXChevron CorporationS&P500-Top5080.22806
CRLBFCresco Labs Inc.Cannabis79.76832
TGODFGreen Organic DutchmanCannabis78.75887
XOMExxon Mobil CorporationS&P500-Top5078.04925
NWKRFNewstrike BrandsCannabis76.54989
GTBIFGreen Thumb Industries Inc.Cannabis76.251009
IIPRInnovative Industrial Properties IncCannabis75.001064
HRVOFHarvest One CannabisCannabis74.491105
PYPLPayPal HoldingsS&P500-Top5074.231122
CGCCanopy Growth CorporationCannabis73.251192
HEXOHexo CorpCannabis73.001207
NKENikeS&P500-Top5072.861217
FLWPFFlowr CorpCannabis72.421240
COSTCostco Wholesale CorporationS&P500-Top5071.741276
IVITFInvictus MD Strategies CorpCannabis71.351305
EMHTFEmerald Health TherapeuticsCannabis70.821335
ZYNEZynerba Pharmaceuticals IncCannabis70.771336
ACRGFAcreage HoldingsCannabis70.431365
APHAAphria Inc.Cannabis70.311373
IMLFFInMed PharmaceuticalsCannabis69.831400
NXTTFNamaste Technologies Inc.Cannabis68.671477
JNJJohnson & JohnsonS&P500-Top5068.071517
CRBPCorbus Pharmaceuticals Holdings IncCannabis67.081582
TBPMFTetra Bio Pharma IncCannabis66.861598
CRMsalesforce.com, inc.S&P500-Top5066.831601
PHCEFPharmacielo LtdCannabis66.671618
KSHBKush Bottles IncCannabis66.161649
TCNNFTrulieve Cannabis Corp.Cannabis63.671819
DISWalt Disney Company (The)S&P500-Top5062.511903
SPRWFSupreme Cannabis Company,Cannabis62.151931
OGRMFOrganigram Holdings IncCannabis61.062015
CSCOCisco SystemsS&P500-Top5060.902023
MRKMerck and CompanyS&P500-Top5060.812036
NCNNF48North Cannabis CorpCannabis60.792041
PFEPfizerS&P500-Top5060.752044
PGProcter & Gamble CompanyS&P500-Top5060.362072
LLYEli Lilly and CompanyS&P500-Top5060.362073
CTSTCannTrust Holdings IncCannabis59.912111
CURLFCuraleaf Holdings, Inc.Cannabis59.312157
MAMasterCardS&P500-Top5059.302159
AMZNAmazon.comS&P500-Top5059.292160
MSFTMicrosoft CorporationS&P500-Top5058.392225
HONHoneywell InternationalS&P500-Top5057.592287
INTCIntel CorporationS&P500-Top5057.572288
ABBVAbbVieS&P500-Top5057.182325
NFLXNetflixS&P500-Top5055.412444
ORCLOracle CorporationS&P500-Top5055.342452
HDHome Depot (The)S&P500-Top5054.762501
UNHUnitedHealth GroupS&P500-Top5054.042559
MDTMedtronic PLCS&P500-Top5053.772581
ADBEAdobe SystemsS&P500-Top5052.892660
ABTAbbott LaboratoriesS&P500-Top5052.802671
TMOThermo Fisher Scientific Inc.S&P500-Top5052.692679
ZBISFZenabis Global IncCannabis52.402713
INSYInsys Therapeutics IncCannabis52.392714
PMPhilip Morris InternationalS&P500-Top5051.062840
NDVAFIndiva LtdCannabis50.872858
VVisaS&P500-Top5050.702882
TAT&TS&P500-Top5049.952970
WMTWal-Mart StoresS&P500-Top5049.643032
UNPUnion PacificS&P500-Top5049.213122
VVCIFVivo Cannabis IncCannabis49.073158
AVGOBroadcom LimitedS&P500-Top5048.943177
BRKBBerkshire HathawayS&P500-Top5048.853190
KHRNFKhiron Life Sciences CorpCannabis48.153300
MCDMcDonald’s CorporationS&P500-Top5048.093304
TLRYTilray IncCannabis47.923328
UTXUnited Technologies CorporationS&P500-Top5047.163450
EEVVFEve & Co IncCannabis46.403567
VZVerizon CommunicationsS&P500-Top5046.323582
CMCSAComcast CorporationS&P500-Top5045.723677
CRONCronos Group IncCannabis45.473712
BACBank of AmericaS&P500-Top5045.183762
AAPLAppleS&P500-Top5045.053775
SNNVFSunniva Inc.Cannabis44.993788
WFCWells FargoS&P500-Top5044.543846
JPMJP Morgan Chase & CompanyS&P500-Top5043.263994
CCitigroupS&P500-Top5042.344087
PEPPepsiCoS&P500-Top5042.314091
ACBAurora CannabisCannabis41.304186
MMNFFMedmen EnterprisesCannabis41.204194
BABoeing Company (The)S&P500-Top5041.174198
CBWTFCannabis Wheaton Income Corp.Cannabis39.634310
GGTTFGTEC HoldingsCannabis36.794478
GGBXFGreen Growth BrandCannabis35.074567
KOCoca-Cola Company (The)S&P500-Top5034.844582
IBMInternational Business Machines CorpS&P500-Top5034.614595
NACNFNational Access Cannabis CorpCannabis33.474625
CANNGeneral Cannabis CorpCannabis30.084757
VRNDFDelta 9 Cannabis IncCannabisNAN/A
RLLRFSugarBud Craft Growers CorpCannabisNAN/A
WSLFFWestleaf IncCannabisNAN/A

MediPharm Labs Corp (MEDIF) received our maximum score for their Financial Situation. Three others scored above 90.

Of the universe of 5062 scored companies, some of the big names ranked extremely low. In fact, Tilray Inc (3328), Cronos Group Inc (3712), Aurora Cannabis (4186), Medmen Enterprises (4194), Green Growth Brand (4567) and General Cannabis Corp (4757) all received very low Financial Quality rankings. Too many liabilities and not enough earnings at this point.

Exhibit 11 is of the consensus scoring of all the independent Analysts who follow the almost 5100 companies that we score and rank on a relative basis each week based on data from Thomson Reuters.

We have a bone to pick with many of the analysts who follow these young cannabis companies. They rate them far too high. They are participating in and possibly even driving the industry hype.

Analyst ratings are not our scores or rankings. We are analyzing and reporting data based on what the industry analysts are reporting to Thomson Reuters, and Thomson Reuters is just publishing it, so please don’t shoot the messengers.

Fully seven of the Cannabis 50 received maximum 100 scores from industry analysts. Obviously, we are not included in this parade that we call a charade.

Four more, which is now 11 of the 50 cannabis companies, received an analyst score above 85. UnitedHealth Group (UNH), a perennial Wall St favorite, received a score of 83.52 (#1 of the S&P 50 but only #12 of this list of 100).

Then three more cannabis companies, all with analyst rating above 80.95, were higher ranked than the #2 S&P 50 companies, Merck and Amazon, which tied with an 80.36 score.

Reminds us of the 1999-2000 new Internet industry that emerged with analyst ratings that surely aided and abetted their sales colleagues. Three years later, half of the best of the best – from Goldman Sachs nonetheless – were bankrupt. So, speculators, beware of salespeople in analysts clothing.

Consensus (Exhibit 11)PeergroupScoreUniverse rank (4322)
IVITFInvictus MD Strategies CorpCannabis1001
TBPMFTetra Bio Pharma IncCannabis1001
ZBISFZenabis Global IncCannabis1001
KHRNFKhiron Life Sciences CorpCannabis1001
SNNVFSunniva Inc.Cannabis1001
GGBXFGreen Growth BrandCannabis1001
VRNDFDelta 9 Cannabis IncCannabis1001
MEDIFMediPharm Labs Corp.Cannabis85.71203
WDDMFWeedMD IncCannabis85.71203
HRVOFHarvest One CannabisCannabis85.71203
VVCIFVivo Cannabis IncCannabis85.71203
UNHUnitedHealth GroupS&P500-Top5083.52379
ACRGFAcreage HoldingsCannabis82.86385
IIPRInnovative Industrial Properties IncCannabis80.95446
MMNFFMedmen EnterprisesCannabis80.95446
MRKMerck and CompanyS&P500-Top5080.36563
AMZNAmazon.comS&P500-Top5080.36563
CRMsalesforce.com, inc.S&P500-Top5079.87579
GOOGLAlphabetS&P500-Top5079.79581
MAMasterCardS&P500-Top5079.79581
CWBHFCharlotte’s WebCannabis79.59585
CRBPCorbus Pharmaceuticals Holdings IncCannabis79.59585
SPRWFSupreme Cannabis Company,Cannabis79.59585
MSFTMicrosoft CorporationS&P500-Top5079.37613
VVisaS&P500-Top5079.29614
OGRMFOrganigram Holdings IncCannabis79.22616
CTSTCannTrust Holdings IncCannabis79.22616
TMOThermo Fisher Scientific Inc.S&P500-Top5078.15728
GWPHGW Pharmaceuticals PLCCannabis78.02733
CNPOFCanopy Rivers IncCannabis77.14765
KSHBKush Bottles IncCannabis77.14765
TCNNFTrulieve Cannabis Corp.Cannabis77.14765
ZYNEZynerba Pharmaceuticals IncCannabis76.19870
HONHoneywell InternationalS&P500-Top5076.19870
GTBIFGreen Thumb Industries Inc.Cannabis75.51934
ABTAbbott LaboratoriesS&P500-Top5075.51934
MCDMcDonald’s CorporationS&P500-Top5075.24971
FBFacebookS&P500-Top5074.471038
CVXChevron CorporationS&P500-Top5072.621145
CCitigroupS&P500-Top5072.451150
COSTCostco Wholesale CorporationS&P500-Top5072.411152
PMPhilip Morris InternationalS&P500-Top5072.301155
CRLBFCresco Labs Inc.Cannabis71.431158
HEXOHexo CorpCannabis71.431158
FLWPFFlowr CorpCannabis71.431158
EMHTFEmerald Health TherapeuticsCannabis71.431158
IMLFFInMed PharmaceuticalsCannabis71.431158
PHCEFPharmacielo LtdCannabis71.431158
CSCOCisco SystemsS&P500-Top5071.431158
CURLFCuraleaf Holdings, Inc.Cannabis71.431158
HDHome Depot (The)S&P500-Top5071.431158
EEVVFEve & Co IncCannabis71.431158
ACBAurora CannabisCannabis71.431158
CBWTFCannabis Wheaton Income Corp.Cannabis71.431158
RLLRFSugarBud Craft Growers CorpCannabis71.431158
WMTWal-Mart StoresS&P500-Top5071.051762
PYPLPayPal HoldingsS&P500-Top5070.791766
AVGOBroadcom LimitedS&P500-Top5070.591769
CMCSAComcast CorporationS&P500-Top5070.561770
DISWalt Disney Company (The)S&P500-Top5069.311821
APHAAphria Inc.Cannabis69.051837
NKENikeS&P500-Top5068.831847
ADBEAdobe SystemsS&P500-Top5068.571869
KOCoca-Cola Company (The)S&P500-Top5067.581969
MDTMedtronic PLCS&P500-Top5067.202000
ACNAccentureS&P500-Top5066.862025
AAPLAppleS&P500-Top5065.992117
BRKBBerkshire HathawayS&P500-Top5065.712118
UNPUnion PacificS&P500-Top5065.312184
UTXUnited Technologies CorporationS&P500-Top5065.222188
PGProcter & Gamble CompanyS&P500-Top5065.052205
BACBank of AmericaS&P500-Top5064.062327
BABoeing Company (The)S&P500-Top5063.742341
CGCCanopy Growth CorporationCannabis63.492354
NFLXNetflixS&P500-Top5062.542432
JNJJohnson & JohnsonS&P500-Top5062.412440
TAT&TS&P500-Top5061.902450
PEPPepsiCoS&P500-Top5061.102606
JPMJP Morgan Chase & CompanyS&P500-Top5060.952620
TGODFGreen Organic DutchmanCannabis60.002660
INSYInsys Therapeutics IncCannabis60.002660
VZVerizon CommunicationsS&P500-Top5058.102834
PFEPfizerS&P500-Top5057.142859
LLYEli Lilly and CompanyS&P500-Top5055.363098
IBMInternational Business Machines CorpS&P500-Top5052.863264
ORCLOracle CorporationS&P500-Top5052.383268
WFCWells FargoS&P500-Top5050.893417
XOMExxon Mobil CorporationS&P500-Top5049.353492
TLRYTilray IncCannabis48.053561
ABBVAbbVieS&P500-Top5046.433640
INTCIntel CorporationS&P500-Top5045.643673
CRONCronos Group IncCannabis27.274271
NWKRFNewstrike BrandsCannabisNAN/A
NXTTFNamaste Technologies Inc.CannabisNAN/A
NCNNF48North Cannabis CorpCannabisNAN/A
NDVAFIndiva LtdCannabisNAN/A
GGTTFGTEC HoldingsCannabisNAN/A
NACNFNational Access Cannabis CorpCannabisNAN/A
CANNGeneral Cannabis CorpCannabisNAN/A
WSLFFWestleaf IncCannabisNAN/A

 

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 increasingly objective and less promotionally oriented in their assessments.

Exhibit 12 in our study series is our proprietary Composite Score for Growth.

Please note that the WMA research data that has been used for the following exhibit also applies a market price factor in its Growth Composite rating. As a result, you will find that the Top 15 of the 100 that we have under review are cannabis companies.

That is the market speaking. When the market is rising, the cannabis boat will lift faster and higher. When the market is falling, that boat will be the earliest ones in trouble.

We were able to rank 98 of the 50 companies of a ranked universe that totaled 5091. Two, SugarBud Craft Growers Corp (RLLRF) and Westleaf Inc (WSLFF), failed to score.

There were only 21 of the Cannabis 50 that received Composite Growth scores above 50 in the universe of 5091; 15 were above 60; 11 were above 70; and five scored from 80.59 up to MediPharm Labs (MEDIF) at 86.11.

MediPharm in fact ranked #5, Flowr Corp (FLWPF) ranked #10, and Charlotte’s Web (CWBHF) ranked #16. Out of 5091 companies, these rankings are impressive.

Of course, there are some big names in the cannabis industry that ranked very low. Much lower than their street reputation.

Growth Comp (Exhibit 12)PeergroupScoreUniverse rank (5091)
MEDIFMediPharm Labs Corp.Cannabis86.115
FLWPFFlowr CorpCannabis84.1110
CWBHFCharlotte’s WebCannabis82.3616
EMHTFEmerald Health TherapeuticsCannabis81.2429
ZBISFZenabis Global IncCannabis80.5934
IIPRInnovative Industrial Properties IncCannabis79.9637
HEXOHexo CorpCannabis79.2540
CURLFCuraleaf Holdings, Inc.Cannabis77.6858
CRLBFCresco Labs Inc.Cannabis75.0383
CTSTCannTrust Holdings IncCannabis73.46107
TCNNFTrulieve Cannabis Corp.Cannabis73.42110
APHAAphria Inc.Cannabis67.71293
GTBIFGreen Thumb Industries Inc.Cannabis67.47299
OGRMFOrganigram Holdings IncCannabis67.14315
ACRGFAcreage HoldingsCannabis65.08424
FBFacebookS&P500-Top5061.69658
AVGOBroadcom LimitedS&P500-Top5059.69842
DISWalt Disney Company (The)S&P500-Top5059.50871
SPRWFSupreme Cannabis Company,Cannabis58.50980
CMCSAComcast CorporationS&P500-Top5058.141021
CCitigroupS&P500-Top5058.061023
XOMExxon Mobil CorporationS&P500-Top5056.301192
BABoeing Company (The)S&P500-Top5055.611280
ADBEAdobe SystemsS&P500-Top5054.421437
MAMasterCardS&P500-Top5054.061492
SNNVFSunniva Inc.Cannabis53.951505
VVisaS&P500-Top5053.921515
MSFTMicrosoft CorporationS&P500-Top5053.891520
PYPLPayPal HoldingsS&P500-Top5053.831533
GOOGLAlphabetS&P500-Top5053.631566
CRONCronos Group IncCannabis53.571577
CRMsalesforce.com, inc.S&P500-Top5053.331619
NFLXNetflixS&P500-Top5052.801724
AMZNAmazon.comS&P500-Top5052.671750
MRKMerck and CompanyS&P500-Top5052.521774
CSCOCisco SystemsS&P500-Top5052.391801
EEVVFEve & Co IncCannabis52.291829
ORCLOracle CorporationS&P500-Top5052.001889
JPMJP Morgan Chase & CompanyS&P500-Top5051.961902
ABBVAbbVieS&P500-Top5051.941906
ACNAccentureS&P500-Top5051.831941
UNHUnitedHealth GroupS&P500-Top5051.582000
UNPUnion PacificS&P500-Top5051.532017
IVITFInvictus MD Strategies CorpCannabis51.492028
AAPLAppleS&P500-Top5051.472033
CVXChevron CorporationS&P500-Top5051.462036
UTXUnited Technologies CorporationS&P500-Top5051.252082
GGBXFGreen Growth BrandCannabis51.122121
NKENikeS&P500-Top5051.122122
BACBank of AmericaS&P500-Top5051.052141
TMOThermo Fisher Scientific Inc.S&P500-Top5051.032150
ABTAbbott LaboratoriesS&P500-Top5050.752229
JNJJohnson & JohnsonS&P500-Top5050.152396
BRKBBerkshire HathawayS&P500-Top5050.012432
VRNDFDelta 9 Cannabis IncCannabis49.812471
COSTCostco Wholesale CorporationS&P500-Top5049.672501
MDTMedtronic PLCS&P500-Top5049.392572
TAT&TS&P500-Top5049.182621
HDHome Depot (The)S&P500-Top5048.842678
CGCCanopy Growth CorporationCannabis48.652716
KOCoca-Cola Company (The)S&P500-Top5048.362759
PGProcter & Gamble CompanyS&P500-Top5047.982803
PMPhilip Morris InternationalS&P500-Top5047.452853
CRBPCorbus Pharmaceuticals Holdings IncCannabis47.422855
MCDMcDonald’s CorporationS&P500-Top5047.382858
PEPPepsiCoS&P500-Top5047.222869
PFEPfizerS&P500-Top5046.902898
LLYEli Lilly and CompanyS&P500-Top5046.902899
INTCIntel CorporationS&P500-Top5046.842905
HONHoneywell InternationalS&P500-Top5046.722917
WFCWells FargoS&P500-Top5046.722918
KHRNFKhiron Life Sciences CorpCannabis46.712919
TLRYTilray IncCannabis45.333022
GWPHGW Pharmaceuticals PLCCannabis45.233027
KSHBKush Bottles IncCannabis45.143037
VZVerizon CommunicationsS&P500-Top5044.413065
WMTWal-Mart StoresS&P500-Top5044.123082
VVCIFVivo Cannabis IncCannabis42.023176
CNPOFCanopy Rivers IncCannabis41.563191
INSYInsys Therapeutics IncCannabis40.003266
ZYNEZynerba Pharmaceuticals IncCannabis35.853474
TGODFGreen Organic DutchmanCannabis34.193562
IBMInternational Business Machines CorpS&P500-Top5034.113568
MMNFFMedmen EnterprisesCannabis30.303808
CBWTFCannabis Wheaton Income Corp.Cannabis29.093864
ACBAurora CannabisCannabis29.073867
WDDMFWeedMD IncCannabis26.163978
PHCEFPharmacielo LtdCannabis21.614120
HRVOFHarvest One CannabisCannabis20.644141
IMLFFInMed PharmaceuticalsCannabis17.274207
NXTTFNamaste Technologies Inc.Cannabis4.694828
NWKRFNewstrike BrandsCannabis3.774935
NDVAFIndiva LtdCannabis2.824987
TBPMFTetra Bio Pharma IncCannabis2.734992
NCNNF48North Cannabis CorpCannabis2.604998
CANNGeneral Cannabis CorpCannabis2.495013
GGTTFGTEC HoldingsCannabis1.755050
NACNFNational Access Cannabis CorpCannabis1.535059
RLLRFSugarBud Craft Growers CorpCannabis05077
WSLFFWestleaf IncCannabis05077

Exhibit 13, which is the final illustration in our study series, is our proprietary Composite Score for Value.

Of a ranked universe that totaled 5091, and the 100 companies we studied, there were only 8 cannabis companies ranked among the top 57 and the score of #8 was just 41.71. Only two cannabis companies scored about 50. Trulieve Cannabis (TCNNF) scored 51.12 and WeedMD scored 56.67. But these ranked +2200 and #1411 out of 5091, which was a poor result for the best 2 of 50 cannabis companies.

Of the S&P 50, only Netflix (NFLX) scored at the bottom with most cannabis companies.

Value Comp (Exhibit 13)PeergroupScoreUniverse rank (5091)
TAT&TS&P500-Top5066.66513
ABBVAbbVieS&P500-Top5064.74654
CCitigroupS&P500-Top5060.92939
INTCIntel CorporationS&P500-Top5060.46992
VZVerizon CommunicationsS&P500-Top5060.40998
IBMInternational Business Machines CorpS&P500-Top5060.261011
CVXChevron CorporationS&P500-Top5060.101027
WFCWells FargoS&P500-Top5059.621078
BACBank of AmericaS&P500-Top5058.891153
AVGOBroadcom LimitedS&P500-Top5058.011261
WDDMFWeedMD IncCannabis56.671411
XOMExxon Mobil CorporationS&P500-Top5056.581421
CMCSAComcast CorporationS&P500-Top5056.511431
JPMJP Morgan Chase & CompanyS&P500-Top5056.501432
HDHome Depot (The)S&P500-Top5054.761665
BRKBBerkshire HathawayS&P500-Top5053.701805
UNHUnitedHealth GroupS&P500-Top5052.002055
WMTWal-Mart StoresS&P500-Top5051.942070
FBFacebookS&P500-Top5051.422156
TCNNFTrulieve Cannabis Corp.Cannabis51.122200
PFEPfizerS&P500-Top5050.982225
DISWalt Disney Company (The)S&P500-Top5050.662278
UTXUnited Technologies CorporationS&P500-Top5050.612286
COSTCostco Wholesale CorporationS&P500-Top5050.242347
GOOGLAlphabetS&P500-Top5049.732427
AAPLAppleS&P500-Top5049.372480
JNJJohnson & JohnsonS&P500-Top5049.312489
MDTMedtronic PLCS&P500-Top5049.152515
ACNAccentureS&P500-Top5049.062529
ORCLOracle CorporationS&P500-Top5049.032536
PMPhilip Morris InternationalS&P500-Top5048.732567
MRKMerck and CompanyS&P500-Top5048.472612
HONHoneywell InternationalS&P500-Top5047.962676
VRNDFDelta 9 Cannabis IncCannabis47.742704
IVITFInvictus MD Strategies CorpCannabis47.342767
UNPUnion PacificS&P500-Top5047.252785
CSCOCisco SystemsS&P500-Top5047.002818
PEPPepsiCoS&P500-Top5046.932826
ABTAbbott LaboratoriesS&P500-Top5046.802846
PGProcter & Gamble CompanyS&P500-Top5046.532873
CWBHFCharlotte’s WebCannabis46.482875
TMOThermo Fisher Scientific Inc.S&P500-Top5046.402891
MSFTMicrosoft CorporationS&P500-Top5045.772966
ZBISFZenabis Global IncCannabis45.193028
AMZNAmazon.comS&P500-Top5044.983050
KOCoca-Cola Company (The)S&P500-Top5044.433098
IIPRInnovative Industrial Properties IncCannabis43.713151
VVisaS&P500-Top5043.283191
NKENikeS&P500-Top5043.263192
LLYEli Lilly and CompanyS&P500-Top5043.243196
CRMsalesforce.com, inc.S&P500-Top5043.153206
BABoeing Company (The)S&P500-Top5042.613242
ADBEAdobe SystemsS&P500-Top5042.313273
MCDMcDonald’s CorporationS&P500-Top5041.893316
INSYInsys Therapeutics IncCannabis41.713323
MAMasterCardS&P500-Top5040.763392
PYPLPayPal HoldingsS&P500-Top5039.883454
OGRMFOrganigram Holdings IncCannabis38.703515
HRVOFHarvest One CannabisCannabis38.193536
MEDIFMediPharm Labs Corp.Cannabis37.003595
SNNVFSunniva Inc.Cannabis34.743722
KSHBKush Bottles IncCannabis30.843937
APHAAphria Inc.Cannabis30.843938
GGBXFGreen Growth BrandCannabis30.433957
GTBIFGreen Thumb Industries Inc.Cannabis30.153974
EEVVFEve & Co IncCannabis27.974073
FLWPFFlowr CorpCannabis04212
EMHTFEmerald Health TherapeuticsCannabis04212
HEXOHexo CorpCannabis04212
CURLFCuraleaf Holdings, Inc.Cannabis04212
CRLBFCresco Labs Inc.Cannabis04212
CTSTCannTrust Holdings IncCannabis04212
ACRGFAcreage HoldingsCannabis04212
SPRWFSupreme Cannabis Company,Cannabis04212
CRONCronos Group IncCannabis04212
NFLXNetflixS&P500-Top5004212
CGCCanopy Growth CorporationCannabis04212
CRBPCorbus Pharmaceuticals Holdings IncCannabis04212
KHRNFKhiron Life Sciences CorpCannabis04212
TLRYTilray IncCannabis04212
GWPHGW Pharmaceuticals PLCCannabis04212
VVCIFVivo Cannabis IncCannabis04212
CNPOFCanopy Rivers IncCannabis04212
ZYNEZynerba Pharmaceuticals IncCannabis04212
TGODFGreen Organic DutchmanCannabis04212
MMNFFMedmen EnterprisesCannabis04212
CBWTFCannabis Wheaton Income Corp.Cannabis04212
ACBAurora CannabisCannabis04212
PHCEFPharmacielo LtdCannabis04212
IMLFFInMed PharmaceuticalsCannabis04212
NXTTFNamaste Technologies Inc.Cannabis04212
NWKRFNewstrike BrandsCannabis04212
NDVAFIndiva LtdCannabis04212
TBPMFTetra Bio Pharma IncCannabis04212
NCNNF48North Cannabis CorpCannabis04212
CANNGeneral Cannabis CorpCannabis04212
GGTTFGTEC HoldingsCannabis04212
NACNFNational Access Cannabis CorpCannabis04212
RLLRFSugarBud Craft Growers CorpCannabis04212
WSLFFWestleaf IncCannabis04212

In most studies we do, we also rank seasoned companies for Yield, but such analysis is unnecessary for cannabis.

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; however, Technical trading systems will be more important for decision-support reasons for many months to come.

As we broaden and deepen our research, we anticipate offering a cannabis portfolio as an option to clients. We believe the interest and the need is there.

To finish this article, we now present the WMA system generated buy-sell list for the Bill Cara Cannabis 50 stocks for the week ending May 24.

To do a buy-sell list for portfolio management purposes, we combine proprietary systems from both WMA and Cara research plus studies of MD&A filings. However, we think it is important for you to see that we have researched these 50 stocks in many ways, including the comparison of corporate fundamentals against a universe of 5091 companies (each week the universe grows or decreases marginally).

TickerNameGROWTH COMP
APHAAphria Inc.Strong Buy
CTSTCannTrust Holdings IncStrong Buy
CWBHFCharlotte’s WebStrong Buy
CRLBFCresco Labs Inc.Strong Buy
CURLFCuraleaf Holdings, Inc.Strong Buy
EMHTFEmerald Health TherapeuticsStrong Buy
FLWPFFlowr CorpStrong Buy
GTBIFGreen Thumb Industries Inc.Strong Buy
HEXOHexo CorpStrong Buy
IIPRInnovative Industrial Properties IncStrong Buy
MEDIFMediPharm Labs Corp.Strong Buy
TCNNFTrulieve Cannabis Corp.Strong Buy
ZBISFZenabis Global IncStrong Buy
ACRGFAcreage HoldingsBuy
CRONCronos Group IncBuy
OGRMFOrganigram Holdings IncBuy
VRNDFDelta 9 Cannabis IncHold
EEVVFEve & Co IncHold
GGBXFGreen Growth BrandHold
IVITFInvictus MD Strategies CorpHold
SNNVFSunniva Inc.Hold
SPRWFSupreme Cannabis Company,Hold
CGCCanopy Growth CorporationSell
CNPOFCanopy Rivers IncSell
CRBPCorbus Pharmaceuticals Holdings IncSell
INSYInsys Therapeutics IncSell
KHRNFKhiron Life Sciences CorpSell
KSHBKush Bottles IncSell
VVCIFVivo Cannabis IncSell
ACBAurora CannabisStrong Sell
CBWTFCannabis Wheaton Income Corp.Strong Sell
TGODFGreen Organic DutchmanStrong Sell
GWPHGW Pharmaceuticals PLCStrong Sell
HRVOFHarvest One CannabisStrong Sell
IMLFFInMed PharmaceuticalsStrong Sell
MMNFFMedmen EnterprisesStrong Sell
PHCEFPharmacielo LtdStrong Sell
TLRYTilray IncStrong Sell
WDDMFWeedMD IncStrong Sell
ZYNEZynerba Pharmaceuticals IncStrong Sell
NCNNF48North Cannabis CorpNo Rating
CANNGeneral Cannabis CorpNo Rating
GGTTFGTEC HoldingsNo Rating
NDVAFIndiva LtdNo Rating
NXTTFNamaste Technologies Inc.No Rating
NACNFNational Access Cannabis CorpNo Rating
NWKRFNewstrike BrandsNo Rating
RLLRFSugarBud Craft Growers CorpNo Rating
TBPMFTetra Bio Pharma IncNo Rating
WSLFFWestleaf IncNo Rating

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.


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