Cara Cannabis 50 Companies

Summary

An expanded study of 50 leading cannabis firms.

Fundamental screening preceeds technical trading.

Cannabis is becoming today's hottest equity growth sector.

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 WMA compiles over thirty data points for 5,200 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 to both make more robust comparisons and 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 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. Indeed, having consensus, forward-looking estimates for EPS and Revenue is a key element in our fundamental algorithm.

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 5,200 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.

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.

Canada ticker

U.S. ticker

Company Name

NRTH.V

NCNNF

48North Cannabis Corp

ACRGF

Acreage Holdings

APHA.TO

APHA

Aphria Inc

ACB.TO

ACB

Aurora Cannabis

XLY.V

CBWTF

Auxly Cannabis

TRST.TO

CTST

Canntrust Holdings

WEED.TO

CGC

Canopy Growth Corp

RIV.V

CNPOF

Canopy Rivers Inc

CWEB.CA

CWBHF

Charlotte's Web

CRBP

Corbus Pharmaceuticals Holdings

CL.CA

CRLBF

Cresco Labs Inc.

CRON.TO

CRON

Cronos Group

CURA.CA

CURLF

Curaleaf Holdings, Inc.

NINE.V

Delta 9 Cannabis Inc

EMH.V

EMHTF

Emerald Health Therapeutics

EVE.V

EEVVF

Eve & Co Inc

FLWR.V

FLWPF

Flowr Corp

CANN

General Cannabis Corp

GGB.CA

GGBXF

Green Growth Brand

TGOD.TO

TGODF

Green Organic Dutchman

GTII.CA

GTBIF

Green Thumb Industries Inc.

GTEC.V

GGTTF

GTEC Holdings

GWPH

GW Pharmaceuticals PLC

HVT.V

HRVOF

Harvest One Cannabis Inc

HEXO.TO

HEXO

Hexo Corp

NDVA.V

NDVAF

Indiva Ltd

IN.TO

IMLFF

InMed Pharmaceuticals

IIPR

Innovative Industrial Properties

INSY

INSYS Therapeutics Inc

GENE.V

IVITF

Invictus MD Strategies Corp

KHRN.V

KHRNF

Khiron Life Sciences Corp

KSHB

KushCo

LABS.V

MEDIF

Medipharm Labs Corp

MMEN.CA

MMNFF

Medmen Enterprises

N.V

NXTTF

Namaste Technologies Inc

META.V

NACNF

National Access Cannabis Corp

HIP.V

NWKRF

Newstrike Brands

OGI.V

OGRMF

Organigram Holdings

PCLO.V

PHCEF

Pharmacielo Ltd

SUGR.V

SugarBud Craft Growers Corp

SNN.CA

SNNVF

Sunniva Inc.

FIRE.TO

SPRWF

Supreme Cannabis Company Inc

TBP.V

TBPMF

Tetra Bio Pharma Inc

TLRY

Tilray

TRUL.CA

TCNNF

Trulieve Cannabis Corp.

VIVO.V

VVCIF

Vivo Cannabis Inc

WMD.V

WDDMF

WeedMD Inc

WL.V

WSLFF

Westleaf Inc

ZENA.V

ZBISF

Zenabis Global Inc

ZYNE

Zynerba Pharmaceuticals Inc

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 signifies that fundamental data is not available for the company or there is a lack of analyst coverage.

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

Now let's examine the detailed scoring results of the 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 forward 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 5200 companies but the scoring universe for each criterion is less because the reported data from the companies and/or the analysts was insufficient. The 4234 in the table above implies that of the 5200 companies we track, the necessary Growth data is not available for about 1000 stocks. 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 (OTCPK:EEVVF), Sunniva Inc. (OTCQB:SNNVF) and Invictus MD Strategies Corp (OTCQX:IVITF) were best, followed by Green Thumb Industries Inc. (OTCQX:GTBIF), Green Growth Brand (OTCQB:GGBXF) and Zenabis Global Inc (OTCPK:ZBISF).

In the universe of 5,200 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. We deem the EPS and Sales Revision scores the most important and are excited to now be developing a new score (our 14 th and 15 th F-scores) that will measure and rank weekly (and even daily changes, for a coming SA Marketplace service) changes in the current and next year EPS and Sales analyst estimates series.

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 (OTCPK:FLWPF) and Corbus Pharmaceuticals Holdings Inc (CRBP), while the 12th best was Curaleaf Holdings, Inc. (OTCPK: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 (Sales) 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 (OTCPK:FLWPF), Corbus Pharmaceuticals Holdings Inc (CRBP), MediPharm Labs Corp. (OTCQX:MEDIF), Kush Bottles Inc (OTCQB:KSHB), Zynerba Pharmaceuticals Inc (ZYNE), Emerald Health Therapeutics (OTCQX: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 (OTCQX:IVITF), and Delta 9 Cannabis Inc (OTCQX: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 (OTCQX:IVITF) and WeedMD Inc (OTCPK: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 (OTCQB:GGBXF) and Vivo Cannabis Inc (OTCQB: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 (OTCQX: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.

We 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. (OTCQX:MEDIF), Canopy Rivers Inc (OTCPK:CNPOF), Charlotte's Web (OTCQX: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 Analysts who follow a good portion of the 5200 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. We do not always agree with analysts, who admittedly are sometimes off the mark.

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 (OTCQX:IVITF), Tetra Bio Pharma Inc (OTCQB:TBPMF), Zenabis Global Inc (OTCPK:ZBISF), Sunniva Inc. (OTCQB:SNNVF), Green Growth Brand (OTCQB:GGBXF), Delta 9 Cannabis Inc (OTCQX:VRNDF), and Khiron Life Sciences Corp (OTCQB: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 this 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 5200 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 readers.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Editor's Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.