Comparing The Cannabis 50 To The S&P 50

Summary

Explosive revenue growth in the cannabis industry.

Valuations still favor S&P 50 companies.

Our fundamental Buy/Sell recommendations on Cannabis 50 firms.

Stacking Up Cannabis Stocks To The Bluechips

This week, we compare many corporate fundamentals of the ‘Cannabis 50’ companies to the largest 50 of the S&P 500 companies. Investor euphoria over the past several years has been concentrated in the Monsters of Tech (Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOG) (NASDAQ:GOOGL), and Facebook (NASDAQ:FB)) as well as the mega-cap Dow stocks (Boeing (NYSE:BA), Caterpillar (NYSE:CAT), etc.). With investor euphoria turning to cannabis stocks, an important question investors should be asking is how attractive are the Monsters of Tech and Dow stocks today relative to the up-and-coming cannabis stocks. For investors seeking Growth, is it worth paying up for cannabis stocks at this stage, or rather hang out in the S&P 50 companies? While cannabis stocks generally offer higher EPS and sales growth rates, our side-by-side rankings found that a handful of cannabis companies are still cheaper than the majority of overbought S&P 50 names.

If we are going to buy, sell or hold the cannabis stocks, then we ought to understand how they stack up to the world’s best-known companies in key Growth and Value metrics. Cannabis 50 expected earnings and revenue need to be put in a relative context to those of the S&P 50 – notably in terms of firm profitability, financials (risk), and valuation. Therefore, for both sets of 50 companies, we rank the fundamental scores derived from Thomson Reuters raw data, our Big Data supplier, against our full list of 5,200 companies that are listed in the U.S. and 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 Cara Cannabis 50, which we are preparing to trade professionally for individual investors. 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 for each of the Cannabis 50.

EXHIBIT A (Cannabis 50)

Cdn ticker

US ticker

Company Name and Website

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 Inc.

WEED.TO

CGC

Canopy Growth Corporation

RIV.V

CNPOF

Canopy Rivers Inc.

CWEB.CA

CWBHF

Charlotte's Web

CRBP

Corbus Pharmaceuticals Holdings Inc.

CL.CA

CRLBF

Cresco Labs Inc.

CRON.TO

CRON

Cronos Group Inc.

CURA.CA

CURLF

Curaleaf Holdings, Inc.

NINE.V

VRNDF

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

HEXO.TO

HEXO

Hexo Corp.

NDVA.V

NDVAF

Indiva Ltd.

IN.TO

IMLFF

InMed Pharmaceuticals

IIPR

Innovative Industrial Properties Inc.

INSY

Insys Therapeutics Inc.

GENE.V

IVITF

Invictus MD Strategies Corp.

KHRN.V

KHRNF

Khiron Life Sciences Corp.

KSHB

Kush Bottles Inc.

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

OGI

Organigram Holdings Inc.

PCLO.V

PHCEF

PharmaCielo Ltd.

SUGR.V

RLLRF

SugarBud Craft Growers Corp.

SNN.CA

SNNVF

Sunniva Inc.

FIRE.TO

SPRWF

Supreme Cannabis Company

TBP.V

TBPMF

Tetra Bio Pharma Inc.

TLRY

Tilray Inc.

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.

EXHIBIT B (S&P 50)

US ticker

Company Name

ABT

Abbott Laboratories

ABBV

AbbVie

ACN

Accenture

ADBE

Adobe Systems

GOOGL

Alphabet

AMZN

Amazon.com

AAPL

Apple

T

AT&T

BAC

Bank of America

BRK.B

Berkshire Hathaway

BA

Boeing Company (The)

AVGO

Broadcom Limited

CVX

Chevron Corporation

CSCO

Cisco Systems

C

Citigroup

KO

Coca-Cola Company (The)

CMCSA

Comcast Corporation

COST

Costco Wholesale Corporation

LLY

Eli Lilly and Company

XOM

Exxon Mobil Corporation

FB

Facebook

HD

Home Depot (The)

HON

Honeywell International

INTC

Intel Corporation

IBM

International Business Machines Corp

JNJ

Johnson & Johnson

JPM

JPMorgan Chase & Company

MA

Mastercard

MCD

McDonald's Corporation

MDT

Medtronic PLC

MRK

Merck & Company

MSFT

Microsoft Corporation

NFLX

Netflix

NKE

Nike

ORCL

Oracle Corporation

PYPL

PayPal Holdings

PEP

PepsiCo

PFE

Pfizer

PM

Philip Morris International

PG

Procter & Gamble Company

CRM

Salesforce.com, Inc.

TMO

Thermo Fisher Scientific Inc.

UNP

Union Pacific

UNH

UnitedHealth Group

UTX

United Technologies Corporation

VZ

Verizon Communications

V

Visa

WMT

Walmart Stores

DIS

Walt Disney Company (The)

WFC

Wells Fargo

Once weekly, we update our data for about 5,200 companies to get relative rankings of any stock against the Universe and relative rankings against its sector (apples-to-apples) 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.

The Williams Market Analytics Fundamental Scoring System ranges 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. The full list of data components and scoring can be seen at the bottom of this page.

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 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)

Peergroup

Score

Universe rank (4238)

CBWTF

Cannabis Wheaton Income Corp.

Cannabis

100

1

IIPR

Innovative Industrial Properties Inc.

Cannabis

90.32

36

SPRWF

Supreme Cannabis Company

Cannabis

85.82

54

EEVVF

Eve & Co Inc

Cannabis

85.13

60

PHCEF

PharmaCielo Ltd.

Cannabis

83.36

81

APHA

Aphria Inc.

Cannabis

81.36

102

CRLBF

Cresco Labs Inc.

Cannabis

79.87

123

KSHB

Kush Bottles Inc.

Cannabis

79.32

131

EMHTF

Emerald Health Therapeutics

Cannabis

78.82

141

GGBXF

Green Growth Brand

Cannabis

78.57

147

GTBIF

Green Thumb Industries Inc.

Cannabis

78.14

150

CTST

CannTrust Holdings Inc.

Cannabis

78.05

152

ZBISF

Zenabis Global Inc.

Cannabis

77.57

166

SNNVF

Sunniva Inc.

Cannabis

77.20

177

FLWPF

Flowr Corp.

Cannabis

75.85

222

HEXO

Hexo Corp.

Cannabis

72.44

312

KHRNF

Khiron Life Sciences Corp.

Cannabis

72.44

313

IVITF

Invictus MD Strategies Corp.

Cannabis

71.63

328

TGODF

Green Organic Dutchman

Cannabis

70.49

355

ACRGF

Acreage Holdings

Cannabis

68.88

399

MEDIF

MediPharm Labs Corp.

Cannabis

66.87

473

VVCIF

Vivo Cannabis Inc.

Cannabis

66.27

505

NFLX

Netflix

S&P500-Top50

65.21

548

FB

Facebook

S&P500-Top50

61.91

744

CRM

Salesforce.com, Inc.

S&P500-Top50

61.28

795

BA

Boeing Company (The)

S&P500-Top50

61.11

811

ADBE

Adobe Systems

S&P500-Top50

60.74

840

CWBHF

Charlotte's Web

Cannabis

60.69

844

AMZN

Amazon.com

S&P500-Top50

60.36

877

PYPL

PayPal Holdings

S&P500-Top50

59.39

970

CGC

Canopy Growth Corporation

Cannabis

59.07

1003

GOOGL

Alphabet

S&P500-Top50

58.99

1013

MMNFF

Medmen Enterprises

Cannabis

58.76

1037

ACB

Aurora Cannabis

Cannabis

58.46

1090

BRK.B

Berkshire Hathaway

S&P500-Top50

58.27

1116

MA

Mastercard

S&P500-Top50

57.21

1277

CURLF

Curaleaf Holdings, Inc.

Cannabis

57.13

1289

GWPH

GW Pharmaceuticals PLC

Cannabis

57.02

1309

UTX

United Technologies Corporation

S&P500-Top50

56.41

1444

V

Visa

S&P500-Top50

56.29

1466

MSFT

Microsoft Corporation

S&P500-Top50

56.22

1485

TLRY

Tilray Inc

Cannabis

56.08

1515

VRNDF

Delta 9 Cannabis Inc

Cannabis

55.26

1733

AVGO

Broadcom Limited

S&P500-Top50

55.19

1753

C

Citigroup

S&P500-Top50

55.11

1775

DIS

Walt Disney Company (The)

S&P500-Top50

54.98

1804

NKE

Nike

S&P500-Top50

54.89

1829

CMCSA

Comcast Corporation

S&P500-Top50

54.76

1863

OGRMF

Organigram Holdings Inc

Cannabis

54.18

2054

JPM

JPMorgan Chase & Company

S&P500-Top50

54.14

2069

CRON

Cronos Group Inc

Cannabis

54.10

2087

ACN

Accenture

S&P500-Top50

54.09

2089

COST

Costco Wholesale Corporation

S&P500-Top50

53.94

2140

UNP

Union Pacific

S&P500-Top50

53.78

2204

BAC

Bank of America

S&P500-Top50

53.44

2340

INSY

Insys Therapeutics Inc

Cannabis

53.34

2386

TCNNF

Trulieve Cannabis Corp.

Cannabis

53.27

2409

KO

Coca-Cola Company (The)

S&P500-Top50

53.12

2467

XOM

Exxon Mobil Corporation

S&P500-Top50

52.54

2689

CSCO

Cisco Systems

S&P500-Top50

52.49

2708

PG

Procter & Gamble Company

S&P500-Top50

52.25

2808

PEP

PepsiCo

S&P500-Top50

52.20

2836

HD

Home Depot (The)

S&P500-Top50

52.17

2846

PM

Philip Morris International

S&P500-Top50

52.13

2868

ZYNE

Zynerba Pharmaceuticals Inc

Cannabis

52.00

2918

AAPL

Apple

S&P500-Top50

51.96

2930

CNPOF

Canopy Rivers Inc

Cannabis

51.92

2946

T

AT&T

S&P500-Top50

51.70

3021

ORCL

Oracle Corporation

S&P500-Top50

51.65

3038

WMT

Walmart Stores

S&P500-Top50

51.45

3117

MCD

McDonald's Corporation

S&P500-Top50

51.08

3225

INTC

Intel Corporation

S&P500-Top50

51.03

3241

UNH

UnitedHealth Group

S&P500-Top50

50.86

3294

VZ

Verizon Communications

S&P500-Top50

50.81

3313

ABT

Abbott Laboratories

S&P500-Top50

50.74

3347

MRK

Merck & Company

S&P500-Top50

50.71

3362

TMO

Thermo Fisher Scientific Inc.

S&P500-Top50

50.66

3380

LLY

Eli Lilly and Company

S&P500-Top50

50.65

3391

ABBV

AbbVie

S&P500-Top50

50.50

3429

MDT

Medtronic PLC

S&P500-Top50

50.42

3454

CVX

Chevron Corporation

S&P500-Top50

50.40

3460

JNJ

Johnson & Johnson

S&P500-Top50

50.37

3469

PFE

Pfizer

S&P500-Top50

50.21

3503

WFC

Wells Fargo

S&P500-Top50

47.25

3668

HON

Honeywell International

S&P500-Top50

46.49

3695

CRBP

Corbus Pharmaceuticals Holdings Inc

Cannabis

46.37

3698

IBM

International Business Machines Corp

S&P500-Top50

42.82

3813

IMLFF

InMed Pharmaceuticals

Cannabis

21.59

4143

TBPMF

Tetra Bio Pharma Inc

Cannabis

NA

N/A

RLLRF

SugarBud Craft Growers Corp

Cannabis

NA

N/A

NWKRF

Newstrike Brands

Cannabis

NA

N/A

NXTTF

Namaste Technologies Inc.

Cannabis

NA

N/A

NCNNF

48North Cannabis Corp

Cannabis

NA

N/A

NDVAF

Indiva Ltd

Cannabis

NA

N/A

GGTTF

GTEC Holdings

Cannabis

NA

N/A

NACNF

National Access Cannabis Corp

Cannabis

NA

N/A

CANN

General Cannabis Corp

Cannabis

NA

N/A

WSLFF

Westleaf Inc

Cannabis

NA

N/A

WDDMF

WeedMD Inc

Cannabis

NA

N/A

HRVOF

Harvest One Cannabis

Cannabis

NA

N/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 5,200 companies, but the scoring universe for each exhibited criterion is less than 5,100 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.

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 2 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.

Revisions (Exhibit 2)

Peer group

Score

Universe rank (4245)

INSY

Insys Therapeutics Inc.

Cannabis

98.36

126

CGC

Canopy Growth Corporation

Cannabis

86.99

189

FLWPF

Flowr Corp.

Cannabis

80.42

235

CTST

CannTrust Holdings Inc.

Cannabis

71.42

340

CRBP

Corbus Pharmaceuticals Holdings Inc.

Cannabis

70.63

356

ZBISF

Zenabis Global Inc.

Cannabis

67.45

408

HEXO

Hexo Corp.

Cannabis

67.22

413

IIPR

Innovative Industrial Properties Inc.

Cannabis

63.32

496

IMLFF

InMed Pharmaceuticals

Cannabis

62.27

527

MEDIF

MediPharm Labs Corp.

Cannabis

59.80

617

CWBHF

Charlotte's Web

Cannabis

57.93

696

TCNNF

Trulieve Cannabis Corp.

Cannabis

57.51

716

JPM

JPMorgan Chase & Company

S&P500-Top50

57.42

721

CMCSA

Comcast Corporation

S&P500-Top50

57.41

723

KHRNF

Khiron Life Sciences Corp.

Cannabis

56.02

826

CVX

Chevron Corporation

S&P500-Top50

55.66

847

COST

Costco Wholesale Corporation

S&P500-Top50

54.08

992

C

Citigroup

S&P500-Top50

53.71

1036

TGODF

Green Organic Dutchman

Cannabis

52.85

1146

MSFT

Microsoft Corporation

S&P500-Top50

52.61

1191

VZ

Verizon Communications

S&P500-Top50

52.28

1234

ORCL

Oracle Corporation

S&P500-Top50

52.18

1261

HON

Honeywell International

S&P500-Top50

52.11

1270

PYPL

PayPal Holdings

S&P500-Top50

51.71

1354

WMT

Walmart Stores

S&P500-Top50

51.66

1365

LLY

Eli Lilly and Company

S&P500-Top50

51.14

1482

FB

Facebook

S&P500-Top50

51.12

1488

UTX

United Technologies Corporation

S&P500-Top50

51.00

1516

ACN

Accenture

S&P500-Top50

50.95

1525

V

Visa

S&P500-Top50

50.81

1566

CSCO

Cisco Systems

S&P500-Top50

50.80

1573

MRK

Merck & Company

S&P500-Top50

50.79

1575

BRK.B

Berkshire Hathaway

S&P500-Top50

50.66

1627

MA

Mastercard

S&P500-Top50

50.65

1629

AVGO

Broadcom Limited

S&P500-Top50

50.62

1639

PEP

PepsiCo

S&P500-Top50

50.62

1640

UNP

Union Pacific

S&P500-Top50

50.54

1658

ADBE

Adobe Systems

S&P500-Top50

50.39

1706

JNJ

Johnson & Johnson

S&P500-Top50

50.32

1734

TMO

Thermo Fisher Scientific Inc.

S&P500-Top50

50.24

1767

ABBV

AbbVie

S&P500-Top50

50.23

1770

T

AT&T

S&P500-Top50

50.10

1820

KO

Coca-Cola Company (The)

S&P500-Top50

50.10

1821

ABT

Abbott Laboratories

S&P500-Top50

50.09

1826

UNH

UnitedHealth Group

S&P500-Top50

50.09

1829

MDT

Medtronic PLC

S&P500-Top50

50.07

1837

AAPL

Apple

S&P500-Top50

50.02

1853

EMHTF

Emerald Health Therapeutics

Cannabis

50.00

1859

CURLF

Curaleaf Holdings, Inc.

Cannabis

50.00

1859

WDDMF

WeedMD Inc.

Cannabis

50.00

1859

IBM

International Business Machines Corp.

S&P500-Top50

49.99

1958

HD

Home Depot (The)

S&P500-Top50

49.80

2041

PG

Procter & Gamble Company

S&P500-Top50

49.76

2056

PFE

Pfizer

S&P500-Top50

49.68

2083

CRM

Salesforce.com, Inc.

S&P500-Top50

49.31

2238

MCD

McDonald's Corporation

S&P500-Top50

49.30

2242

AMZN

Amazon.com

S&P500-Top50

49.16

2294

XOM

Exxon Mobil Corporation

S&P500-Top50

49.04

2338

GOOGL

Alphabet

S&P500-Top50

48.74

2432

NKE

Nike

S&P500-Top50

47.83

2632

INTC

Intel Corporation

S&P500-Top50

47.64

2677

BAC

Bank of America

S&P500-Top50

47.38

2738

DIS

Walt Disney Company (The)

S&P500-Top50

45.32

3062

NFLX

Netflix

S&P500-Top50

44.09

3184

PM

Philip Morris International

S&P500-Top50

43.75

3217

BA

Boeing Company (The)

S&P500-Top50

42.43

3322

HRVOF

Harvest One Cannabis

Cannabis

41.97

3361

ACRGF

Acreage Holdings

Cannabis

40.92

3430

OGRMF

Organigram Holdings Inc.

Cannabis

40.86

3435

SPRWF

Supreme Cannabis Company

Cannabis

40.41

3470

ZYNE

Zynerba Pharmaceuticals Inc.

Cannabis

39.00

3541

WFC

Wells Fargo

S&P500-Top50

38.01

3590

CRON

Cronos Group Inc.

Cannabis

36.40

3650

CBWTF

Cannabis Wheaton Income Corp.

Cannabis

28.59

3844

CNPOF

Canopy Rivers Inc.

Cannabis

27.37

3866

TLRY

Tilray Inc.

Cannabis

27.29

3869

VRNDF

Delta 9 Cannabis Inc.

Cannabis

26.60

3881

KSHB

Kush Bottles Inc.

Cannabis

21.88

3952

ACB

Aurora Cannabis

Cannabis

20.10

3978

GWPH

GW Pharmaceuticals PLC

Cannabis

19.67

3984

GTBIF

Green Thumb Industries Inc.

Cannabis

13.74

4045

APHA

Aphria Inc.

Cannabis

11.97

4061

VVCIF

Vivo Cannabis Inc.

Cannabis

1.72

4124

MMNFF

Medmen Enterprises

Cannabis

0

4133

SNNVF

Sunniva Inc.

Cannabis

NA

N/A

IVITF

Invictus MD Strategies Corp.

Cannabis

NA

N/A

EEVVF

Eve & Co Inc.

Cannabis

NA

N/A

GGBXF

Green Growth Brand

Cannabis

NA

N/A

CRLBF

Cresco Labs Inc.

Cannabis

NA

N/A

PHCEF

PharmaCielo Ltd.

Cannabis

NA

N/A

TBPMF

Tetra Bio Pharma Inc.

Cannabis

NA

N/A

RLLRF

SugarBud Craft Growers Corp.

Cannabis

NA

N/A

NWKRF

Newstrike Brands

Cannabis

NA

N/A

NXTTF

Namaste Technologies Inc.

Cannabis

NA

N/A

NCNNF

48North Cannabis Corp.

Cannabis

NA

N/A

NDVAF

Indiva Ltd.

Cannabis

NA

N/A

GGTTF

GTEC Holdings

Cannabis

NA

N/A

NACNF

National Access Cannabis Corp.

Cannabis

NA

N/A

CANN

General Cannabis Corp.

Cannabis

NA

N/A

WSLFF

Westleaf Inc.

Cannabis

NA

N/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 (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 a 2,813 ranking in the universe of 4,171 companies that received scores for this measure. That was CannTrust Holdings with a ranking of 2,813. The others received very poor rankings.

Exhibit 3 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. (OTCQX:IVITF), Delta 9 Cannabis (OTCQX:VRNDF), WeedMD (OTCPK:WDDMF) and Harvest One (OTCPK:HRVOF) are now up there with the likes of UnitedHealth (UNH), Berkshire Hathaway (NYSE:BRK.B) and Walmart (WMT) in terms of Valuation attractiveness.

Valuation (Exhibit 3)

Peergroup

Score

Universe rank (4908)

INSY

Insys Therapeutics Inc.

Cannabis

100

91

IVITF

Invictus MD Strategies Corp.

Cannabis

92.05

266

VRNDF

Delta 9 Cannabis Inc.

Cannabis

86.61

443

WDDMF

WeedMD Inc.

Cannabis

80.89

696

HRVOF

Harvest One Cannabis

Cannabis

75.97

953

UNH

UnitedHealth Group

S&P500-Top50

75.50

970

BRK.B

Berkshire Hathaway

S&P500-Top50

75.19

981

WMT

Walmart Stores

S&P500-Top50

68.25

1390

GGBXF

Green Growth Brand

Cannabis

67.95

1419

ZBISF

Zenabis Global Inc.

Cannabis

64.94

1635

ABBV

AbbVie

S&P500-Top50

64.41

1663

EEVVF

Eve & Co Inc.

Cannabis

62.97

1769

IBM

International Business Machines Corp.

S&P500-Top50

62.45

1812

INTC

Intel Corporation

S&P500-Top50

61.92

1849

XOM

Exxon Mobil Corporation

S&P500-Top50

60.13

1982

CVX

Chevron Corporation

S&P500-Top50

59.15

2060

COST

Costco Wholesale Corporation

S&P500-Top50

58.11

2139

PFE

Pfizer

S&P500-Top50

56.54

2248

JNJ

Johnson & Johnson

S&P500-Top50

56.25

2269

MRK

Merck & Company

S&P500-Top50

55.83

2301

VVCIF

Vivo Cannabis Inc.

Cannabis

55.71

2315

MDT

Medtronic PLC

S&P500-Top50

54.41

2404

TCNNF

Trulieve Cannabis Corp.

Cannabis

53.56

2474

CBWTF

Cannabis Wheaton Income Corp.

Cannabis

53.16

2512

AAPL

Apple

S&P500-Top50

52.37

2581

ABT

Abbott Laboratories

S&P500-Top50

51.57

2659

TMO

Thermo Fisher Scientific Inc.

S&P500-Top50

51.05

2712

WFC

Wells Fargo

S&P500-Top50

49.87

2855

LLY

Eli Lilly and Company

S&P500-Top50

49.85

2860

NACNF

National Access Cannabis Corp.

Cannabis

49.82

2865

KHRNF

Khiron Life Sciences Corp.

Cannabis

49.82

2869

CWBHF

Charlotte's Web

Cannabis

49.77

2894

CURLF

Curaleaf Holdings, Inc.

Cannabis

49.74

2901

T

AT&T

S&P500-Top50

49.68

2916

BAC

Bank of America

S&P500-Top50

49.63

2929

SNNVF

Sunniva Inc.

Cannabis

49.50

2969

ACRGF

Acreage Holdings

Cannabis

49.40

2991

JPM

JPMorgan Chase & Company

S&P500-Top50

49.33

3010

OGRMF

Organigram Holdings Inc.

Cannabis

49.29

3021

VZ

Verizon Communications

S&P500-Top50

49.24

3028

MEDIF

MediPharm Labs Corp.

Cannabis

49.09

3066

APHA

Aphria Inc.

Cannabis

49.06

3077

EMHTF

Emerald Health Therapeutics

Cannabis

49.06

3078

HEXO

Hexo Corp.

Cannabis

48.91

3109

TLRY

Tilray Inc.

Cannabis

48.69

3153

ACN

Accenture

S&P500-Top50

48.58

3173

GWPH

GW Pharmaceuticals PLC

Cannabis

48.45

3212

MMNFF

Medmen Enterprises

Cannabis

48.37

3233

CRLBF

Cresco Labs Inc.

Cannabis

48.35

3237

ORCL

Oracle Corporation

S&P500-Top50

48.20

3266

AVGO

Broadcom Limited

S&P500-Top50

47.76

3340

RLLRF

SugarBud Craft Growers Corp.

Cannabis

47.57

3369

CRBP

Corbus Pharmaceuticals Holdings Inc.

Cannabis

47.30

3408

FLWPF

Flowr Corp.

Cannabis

47.22

3420

C

Citigroup

S&P500-Top50

46.64

3487

CSCO

Cisco Systems

S&P500-Top50

46.04

3564

NCNNF

48North Cannabis Corp.

Cannabis

45.85

3586

CMCSA

Comcast Corporation

S&P500-Top50

45.82

3591

TGODF

Green Organic Dutchman

Cannabis

45.65

3612

GOOGL

Alphabet

S&P500-Top50

45.53

3626

CNPOF

Canopy Rivers Inc.

Cannabis

45.50

3630

CGC

Canopy Growth Corporation

Cannabis

45.28

3661

KSHB

Kush Bottles Inc.

Cannabis

44.75

3707

UTX

United Technologies Corporation

S&P500-Top50

43.83

3822

ACB

Aurora Cannabis

Cannabis

43.78

3824

HD

Home Depot (The)

S&P500-Top50

43.65

3840

NWKRF

Newstrike Brands

Cannabis

43.46

3855

FB

Facebook

S&P500-Top50

41.05

4059

ZYNE

Zynerba Pharmaceuticals Inc.

Cannabis

40.35

4099

BA

Boeing Company (The)

S&P500-Top50

40.13

4110

MSFT

Microsoft Corporation

S&P500-Top50

39.79

4129

PYPL

PayPal Holdings

S&P500-Top50

39.21

4166

PEP

PepsiCo

S&P500-Top50

38.51

4201

CRM

Salesforce.com, Inc.

S&P500-Top50

37.07

4274

DIS

Walt Disney Company (The)

S&P500-Top50

37.07

4276

AMZN

Amazon.com

S&P500-Top50

35.25

4356

PHCEF

PharmaCielo Ltd

Cannabis

34.88

4370

HON

Honeywell International

S&P500-Top50

34.85

4371

NKE

Nike

S&P500-Top50

34.30

4396

PG

Procter & Gamble Company

S&P500-Top50

31.62

4485

PM

Philip Morris International

S&P500-Top50

31.05

4503

ADBE

Adobe Systems

S&P500-Top50

30.26

4520

CTST

CannTrust Holdings Inc.

Cannabis

24.55

4624

MA

Mastercard

S&P500-Top50

24.30

4628

UNP

Union Pacific

S&P500-Top50

23.95

4634

V

Visa

S&P500-Top50

23.39

4645

SPRWF

Supreme Cannabis Company

Cannabis

21.77

4678

CRON

Cronos Group Inc

Cannabis

21.26

4688

MCD

McDonald's Corporation

S&P500-Top50

20.34

4701

IIPR

Innovative Industrial Properties Inc

Cannabis

19.93

4706

KO

Coca-Cola Company (The)

S&P500-Top50

16.48

4735

NDVAF

Indiva Ltd

Cannabis

5.43

4796

NFLX

Netflix

S&P500-Top50

3.44

4809

GTBIF

Green Thumb Industries Inc.

Cannabis

0

4827

TBPMF

Tetra Bio Pharma Inc

Cannabis

0

4827

NXTTF

Namaste Technologies Inc.

Cannabis

0

4827

GGTTF

GTEC Holdings

Cannabis

0

4827

CANN

General Cannabis Corp

Cannabis

0

4827

IMLFF

InMed Pharmaceuticals

Cannabis

NA

N/A

WSLFF

Westleaf Inc

Cannabis

NA

N/A

Exhibit 4 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. (OTCQX:IVITF) was atop the leader board and WeedMD Inc. (OTCPK:WDDMF) was close at #7.

These two received rankings of 164 and 487 out of the scored universe of 3,369 companies, which was quite acceptable.

PER (Exhibit 4)

Peergroup

Score

Universe rank (3,369)

IVITF

Invictus MD Strategies Corp.

Cannabis

95.82

164

IBM

International Business Machines Corp.

S&P500-Top50

91.23

248

INTC

Intel Corporation

S&P500-Top50

88.59

314

ABBV

AbbVie

S&P500-Top50

87.34

344

AVGO

Broadcom Limited

S&P500-Top50

87.13

351

T

AT&T

S&P500-Top50

86.97

358

WDDMF

WeedMD Inc.

Cannabis

81.72

487

C

Citigroup

S&P500-Top50

74.61

737

VRNDF

Delta 9 Cannabis Inc.

Cannabis

74.34

753

ORCL

Oracle Corporation

S&P500-Top50

73.83

775

PFE

Pfizer

S&P500-Top50

73.75

778

AAPL

Apple

S&P500-Top50

72.45

828

VZ

Verizon Communications

S&P500-Top50

70.56

902

JNJ

Johnson & Johnson

S&P500-Top50

69.57

940

UNH

UnitedHealth Group

S&P500-Top50

68.38

979

MRK

Merck & Company

S&P500-Top50

67.57

1002

MDT

Medtronic PLC

S&P500-Top50

66.85

1031

CSCO

Cisco Systems

S&P500-Top50

66.19

1048

PM

Philip Morris International

S&P500-Top50

65.92

1063

EEVVF

Eve & Co Inc

Cannabis

64.66

1113

WFC

Wells Fargo

S&P500-Top50

63.89

1144

BAC

Bank of America

S&P500-Top50

63.20

1171

TCNNF

Trulieve Cannabis Corp.

Cannabis

61.99

1203

LLY

Eli Lilly and Company

S&P500-Top50

59.27

1310

CMCSA

Comcast Corporation

S&P500-Top50

57.35

1390

TMO

Thermo Fisher Scientific Inc.

S&P500-Top50

54.61

1507

JPM

JPMorgan Chase & Company

S&P500-Top50

53.67

1547

ABT

Abbott Laboratories

S&P500-Top50

50.67

1656

SNNVF

Sunniva Inc.

Cannabis

49.99

1698

GGBXF

Green Growth Brand

Cannabis

49.81

1782

CRON

Cronos Group Inc.

Cannabis

49.76

1796

ACN

Accenture

S&P500-Top50

49.76

1798

FB

Facebook

S&P500-Top50

49.71

1815

HRVOF

Harvest One Cannabis

Cannabis

49.69

1822

GOOGL

Alphabet

S&P500-Top50

49.69

1823

CVX

Chevron Corporation

S&P500-Top50

49.61

1853

MSFT

Microsoft Corporation

S&P500-Top50

49.44

1902

IIPR

Innovative Industrial Properties Inc.

Cannabis

49.30

1949

V

Visa

S&P500-Top50

49.11

2006

XOM

Exxon Mobil Corporation

S&P500-Top50

49.06

2020

WMT

Walmart Stores

S&P500-Top50

49.02

2033

UTX

United Technologies Corporation

S&P500-Top50

48.91

2065

MA

Mastercard

S&P500-Top50

48.74

2116

ADBE

Adobe Systems

S&P500-Top50

48.57

2152

APHA

Aphria Inc.

Cannabis

48.44

2173

HD

Home Depot (The)

S&P500-Top50

48.41

2178

PYPL

PayPal Holdings

S&P500-Top50

48.28

2200

OGRMF

Organigram Holdings Inc.

Cannabis

48.08

2252

DIS

Walt Disney Company (The)

S&P500-Top50

47.76

2325

CWBHF

Charlotte's Web

Cannabis

47.33

2411

PEP

PepsiCo

S&P500-Top50

47.16

2440

UNP

Union Pacific

S&P500-Top50

47.07

2451

PG

Procter & Gamble Company

S&P500-Top50

46.98

2463

KO

Coca-Cola Company (The)

S&P500-Top50

46.98

2465

MCD

McDonald's Corporation

S&P500-Top50

46.00

2593

CRM

Salesforce.com, Inc.

S&P500-Top50

45.66

2631

HON

Honeywell International

S&P500-Top50

45.63

2635

ZBISF

Zenabis Global Inc

Cannabis

45.40

2661

BA

Boeing Company (The)

S&P500-Top50

44.78

2717

MEDIF

MediPharm Labs Corp.

Cannabis

43.79

2792

NKE

Nike

S&P500-Top50

43.50

2809

HEXO

Hexo Corp

Cannabis

42.20

2879

CNPOF

Canopy Rivers Inc

Cannabis

40.47

2946

GTBIF

Green Thumb Industries Inc.

Cannabis

40.38

2951

COST

Costco Wholesale Corporation

S&P500-Top50

40.33

2955

BRK.B

Berkshire Hathaway

S&P500-Top50

39.21

2993

CTST

CannTrust Holdings Inc.

Cannabis

36.57

3060

CRLBF

Cresco Labs Inc.

Cannabis

35.05

3095

CURLF

Curaleaf Holdings, Inc.

Cannabis

34.21

3108

AMZN

Amazon.com

S&P500-Top50

29.07

3165

VVCIF

Vivo Cannabis Inc.

Cannabis

18.92

3223

EMHTF

Emerald Health Therapeutics

Cannabis

18.29

3225

NFLX

Netflix

S&P500-Top50

15.54

3237

ACRGF

Acreage Holdings

Cannabis

3.73

3273

FLWPF

Flowr Corp.

Cannabis

1.16

3276

SPRWF

Supreme Cannabis Company

Cannabis

0

3280

INSY

Insys Therapeutics Inc.

Cannabis

NA

N/A

CBWTF

Cannabis Wheaton Income Corp.

Cannabis

NA

N/A

NACNF

National Access Cannabis Corp.

Cannabis

NA

N/A

KHRNF

Khiron Life Sciences Corp.

Cannabis

NA

N/A

TLRY

Tilray Inc.

Cannabis

NA

N/A

GWPH

GW Pharmaceuticals PLC

Cannabis

NA

N/A

MMNFF

Medmen Enterprises

Cannabis

NA

N/A

RLLRF

SugarBud Craft Growers Corp.

Cannabis

NA

N/A

CRBP

Corbus Pharmaceuticals Holdings Inc.

Cannabis

NA

N/A

NCNNF

48North Cannabis Corp.

Cannabis

NA

N/A

TGODF

Green Organic Dutchman

Cannabis

NA

N/A

CGC

Canopy Growth Corporation

Cannabis

NA

N/A

KSHB

Kush Bottles Inc.

Cannabis

NA

N/A

ACB

Aurora Cannabis

Cannabis

NA

N/A

NWKRF

Newstrike Brands

Cannabis

NA

N/A

ZYNE

Zynerba Pharmaceuticals Inc.

Cannabis

NA

N/A

PHCEF

PharmaCielo Ltd.

Cannabis

NA

N/A

NDVAF

Indiva Ltd.

Cannabis

NA

N/A

TBPMF

Tetra Bio Pharma Inc.

Cannabis

NA

N/A

NXTTF

Namaste Technologies Inc.

Cannabis

NA

N/A

GGTTF

GTEC Holdings

Cannabis

NA

N/A

CANN

General Cannabis Corp.

Cannabis

NA

N/A

IMLFF

InMed Pharmaceuticals

Cannabis

NA

N/A

WSLFF

Westleaf Inc.

Cannabis

NA

N/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. A high P/E denominator will give a lower, more attractive valuation multiple.

Exhibit 5 is for Profitability.

For Profitability, the best two cannabis companies are Charlotte’s Web (OTCQX:CWBHF) and Innovative Industrial Properties Inc (IIPR), which ranked #537 and #1051 of the 4,899 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, we believe that the score for Charlotte’s Web (OTCQX: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 (OTCQX:CWBHF) was close with a 1,219 ranking (improved this week from 1,221) out of the universe of 4,807 that we were able to score.”

Profitability (Exhibit 5)

Peergroup

Score

Universe rank (4,899)

AVGO

Broadcom Limited

S&P500-Top50

100

1

V

Visa

S&P500-Top50

100

1

UNP

Union Pacific

S&P500-Top50

100

1

MA

Mastercard

S&P500-Top50

100

1

MCD

McDonald's Corporation

S&P500-Top50

100

1

ORCL

Oracle Corporation

S&P500-Top50

99.97

69

PM

Philip Morris International

S&P500-Top50

99.34

75

KO

Coca-Cola Company (The)

S&P500-Top50

98.39

85

FB

Facebook

S&P500-Top50

97.33

94

INTC

Intel Corporation

S&P500-Top50

96.79

103

ADBE

Adobe Systems

S&P500-Top50

96.77

105

MSFT

Microsoft Corporation

S&P500-Top50

96.74

106

PFE

Pfizer

S&P500-Top50

95.18

128

MRK

Merck & Company

S&P500-Top50

92.78

174

JNJ

Johnson & Johnson

S&P500-Top50

91.95

188

ABBV

AbbVie

S&P500-Top50

91.83

191

CSCO

Cisco Systems

S&P500-Top50

88.88

252

VZ

Verizon Communications

S&P500-Top50

88.86

254

T

AT&T

S&P500-Top50

86.41

328

LLY

Eli Lilly and Company

S&P500-Top50

86.08

339

DIS

Walt Disney Company (The)

S&P500-Top50

85.55

354

MDT

Medtronic PLC

S&P500-Top50

85.15

368

PG

Procter & Gamble Company

S&P500-Top50

85.00

377

AAPL

Apple

S&P500-Top50

84.87

381

CMCSA

Comcast Corporation

S&P500-Top50

84.24

408

GOOGL

Alphabet

S&P500-Top50

83.32

449

NFLX

Netflix

S&P500-Top50

82.91

482

CWBHF

Charlotte's Web

Cannabis

81.93

537

TMO

Thermo Fisher Scientific Inc.

S&P500-Top50

79.03

711

BAC

Bank of America

S&P500-Top50

78.47

759

PYPL

PayPal Holdings

S&P500-Top50

78.45

763

JPM

JPMorgan Chase & Company

S&P500-Top50

78.15

791

HON

Honeywell International

S&P500-Top50

77.01

882

ABT

Abbott Laboratories

S&P500-Top50

76.61

937

IIPR

Innovative Industrial Properties Inc.

Cannabis

75.39

1051

PEP

PepsiCo

S&P500-Top50

75.05

1091

WFC

Wells Fargo

S&P500-Top50

75.03

1092

CRON

Cronos Group Inc.

Cannabis

74.68

1127

C

Citigroup

S&P500-Top50

74.67

1128

IBM

International Business Machines Corp.

S&P500-Top50

74.65

1135

HD

Home Depot (The)

S&P500-Top50

71.54

1516

OGRMF

Organigram Holdings Inc.

Cannabis

70.81

1597

NKE

Nike

S&P500-Top50

70.60

1626

TCNNF

Trulieve Cannabis Corp.

Cannabis

68.24

1887

ACN

Accenture

S&P500-Top50

67.98

1917

UTX

United Technologies Corporation

S&P500-Top50

67.72

1951

VRNDF

Delta 9 Cannabis Inc.

Cannabis

66.99

2042

CRM

Salesforce.com, Inc.

S&P500-Top50

66.88

2053

BA

Boeing Company (The)

S&P500-Top50

66.06

2145

ZBISF

Zenabis Global Inc.

Cannabis

65.26

2237

WDDMF

WeedMD Inc.

Cannabis

62.99

2509

AMZN

Amazon.com

S&P500-Top50

62.53

2576

UNH

UnitedHealth Group

S&P500-Top50

59.50

2955

MEDIF

MediPharm Labs Corp.

Cannabis

59.34

2974

CVX

Chevron Corporation

S&P500-Top50

59.17

3002

BRK.B

Berkshire Hathaway

S&P500-Top50

58.65

3061

CRLBF

Cresco Labs Inc.

Cannabis

57.31

3230

WMT

Walmart Stores

S&P500-Top50

56.99

3273

XOM

Exxon Mobil Corporation

S&P500-Top50

55.99

3389

COST

Costco Wholesale Corporation

S&P500-Top50

55.14

3468

CTST

CannTrust Holdings Inc.

Cannabis

52.11

3780

FLWPF

Flowr Corp.

Cannabis

51.45

3843

EMHTF

Emerald Health Therapeutics

Cannabis

50.10

3930

CURLF

Curaleaf Holdings, Inc.

Cannabis

50.00

3934

EEVVF

Eve & Co Inc.

Cannabis

49.97

3979

GTBIF

Green Thumb Industries Inc.

Cannabis

49.92

4007

APHA

Aphria Inc.

Cannabis

49.85

4042

GGBXF

Green Growth Brand

Cannabis

49.81

4055

SNNVF

Sunniva Inc.

Cannabis

49.75

4073

CNPOF

Canopy Rivers Inc.

Cannabis

49.74

4080

VVCIF

Vivo Cannabis Inc.

Cannabis

49.72

4083

TLRY

Tilray Inc.

Cannabis

49.71

4087

INSY

Insys Therapeutics Inc.

Cannabis

49.66

4102

ACB

Aurora Cannabis

Cannabis

49.52

4120

CGC

Canopy Growth Corporation

Cannabis

49.45

4128

MMNFF

Medmen Enterprises

Cannabis

49.45

4131

ACRGF

Acreage Holdings

Cannabis

49.28

4159

RLLRF

SugarBud Craft Growers Corp.

Cannabis

49.23

4164

HEXO

Hexo Corp.

Cannabis

49.18

4177

NWKRF

Newstrike Brands

Cannabis

48.98

4209

NACNF

National Access Cannabis Corp.

Cannabis

48.68

4253

IVITF

Invictus MD Strategies Corp.

Cannabis

48.42

4277

PHCEF

PharmaCielo Ltd.

Cannabis

48.01

4314

GWPH

GW Pharmaceuticals PLC

Cannabis

47.70

4341

CRBP

Corbus Pharmaceuticals Holdings Inc.

Cannabis

46.76

4399

HRVOF

Harvest One Cannabis

Cannabis

46.74

4401

KHRNF

Khiron Life Sciences Corp.

Cannabis

45.69

4449

TGODF

Green Organic Dutchman

Cannabis

45.64

4451

KSHB

Kush Bottles Inc.

Cannabis

24.12

4728

TBPMF

Tetra Bio Pharma Inc.

Cannabis

13.16

4777

SPRWF

Supreme Cannabis Company

Cannabis

12.57

4780

NDVAF

Indiva Ltd.

Cannabis

5.18

4799

CBWTF

Cannabis Wheaton Income Corp.

Cannabis

3.14

4810

GGTTF

GTEC Holdings

Cannabis

0.30

4820

CANN

General Cannabis Corp.

Cannabis

0

4821

ZYNE

Zynerba Pharmaceuticals Inc.

Cannabis

0

4821

NXTTF

Namaste Technologies Inc.

Cannabis

0

4821

NCNNF

48North Cannabis Corp.

Cannabis

NA

N/A

IMLFF

InMed Pharmaceuticals

Cannabis

NA

N/A

WSLFF

Westleaf Inc.

Cannabis

NA

N/A

Only 14 of the 50 cannabis companies received Profitability scores in the top 50% of companies in the 4,899 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 PhDs 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 6 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 5,062 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 6)

Peergroup

Score

Universe rank (5062)

FB

Facebook

S&P500-Top50

100

1

MEDIF

MediPharm Labs Corp.

Cannabis

100

1

CNPOF

Canopy Rivers Inc.

Cannabis

98.90

107

CWBHF

Charlotte's Web

Cannabis

94.62

188

GWPH

GW Pharmaceuticals PLC

Cannabis

91.45

260

GOOGL

Alphabet

S&P500-Top50

88.50

358

ACN

Accenture

S&P500-Top50

84.45

615

WDDMF

WeedMD Inc.

Cannabis

83.72

641

CVX

Chevron Corporation

S&P500-Top50

80.22

806

CRLBF

Cresco Labs Inc.

Cannabis

79.76

832

TGODF

Green Organic Dutchman

Cannabis

78.75

887

XOM

Exxon Mobil Corporation

S&P500-Top50

78.04

925

NWKRF

Newstrike Brands

Cannabis

76.54

989

GTBIF

Green Thumb Industries Inc.

Cannabis

76.25

1009

IIPR

Innovative Industrial Properties Inc.

Cannabis

75.00

1064

HRVOF

Harvest One Cannabis

Cannabis

74.49

1105

PYPL

PayPal Holdings

S&P500-Top50

74.23

1122

CGC

Canopy Growth Corporation

Cannabis

73.25

1192

HEXO

Hexo Corp.

Cannabis

73.00

1207

NKE

Nike

S&P500-Top50

72.86

1217

FLWPF

Flowr Corp.

Cannabis

72.42

1240

COST

Costco Wholesale Corporation

S&P500-Top50

71.74

1276

IVITF

Invictus MD Strategies Corp.

Cannabis

71.35

1305

EMHTF

Emerald Health Therapeutics

Cannabis

70.82

1335

ZYNE

Zynerba Pharmaceuticals Inc.

Cannabis

70.77

1336

ACRGF

Acreage Holdings

Cannabis

70.43

1365

APHA

Aphria Inc.

Cannabis

70.31

1373

IMLFF

InMed Pharmaceuticals

Cannabis

69.83

1400

NXTTF

Namaste Technologies Inc.

Cannabis

68.67

1477

JNJ

Johnson & Johnson

S&P500-Top50

68.07

1517

CRBP

Corbus Pharmaceuticals Holdings Inc.

Cannabis

67.08

1582

TBPMF

Tetra Bio Pharma Inc.

Cannabis

66.86

1598

CRM

Salesforce.com, Inc.

S&P500-Top50

66.83

1601

PHCEF

PharmaCielo Ltd.

Cannabis

66.67

1618

KSHB

Kush Bottles Inc.

Cannabis

66.16

1649

TCNNF

Trulieve Cannabis Corp.

Cannabis

63.67

1819

DIS

Walt Disney Company (The)

S&P500-Top50

62.51

1903

SPRWF

Supreme Cannabis Company

Cannabis

62.15

1931

OGRMF

Organigram Holdings Inc.

Cannabis

61.06

2015

CSCO

Cisco Systems

S&P500-Top50

60.90

2023

MRK

Merck & Company

S&P500-Top50

60.81

2036

NCNNF

48North Cannabis Corp.

Cannabis

60.79

2041

PFE

Pfizer

S&P500-Top50

60.75

2044

PG

Procter & Gamble Company

S&P500-Top50

60.36

2072

LLY

Eli Lilly and Company

S&P500-Top50

60.36

2073

CTST

CannTrust Holdings Inc.

Cannabis

59.91

2111

CURLF

Curaleaf Holdings, Inc.

Cannabis

59.31

2157

MA

Mastercard

S&P500-Top50

59.30

2159

AMZN

Amazon.com

S&P500-Top50

59.29

2160

MSFT

Microsoft Corporation

S&P500-Top50

58.39

2225

HON

Honeywell International

S&P500-Top50

57.59

2287

INTC

Intel Corporation

S&P500-Top50

57.57

2288

ABBV

AbbVie

S&P500-Top50

57.18

2325

NFLX

Netflix

S&P500-Top50

55.41

2444

ORCL

Oracle Corporation

S&P500-Top50

55.34

2452

HD

Home Depot (The)

S&P500-Top50

54.76

2501

UNH

UnitedHealth Group

S&P500-Top50

54.04

2559

MDT

Medtronic PLC

S&P500-Top50

53.77

2581

ADBE

Adobe Systems

S&P500-Top50

52.89

2660

ABT

Abbott Laboratories

S&P500-Top50

52.80

2671

TMO

Thermo Fisher Scientific Inc.

S&P500-Top50

52.69

2679

ZBISF

Zenabis Global Inc.

Cannabis

52.40

2713

INSY

Insys Therapeutics Inc.

Cannabis

52.39

2714

PM

Philip Morris International

S&P500-Top50

51.06

2840

NDVAF

Indiva Ltd.

Cannabis

50.87

2858

V

Visa

S&P500-Top50

50.70

2882

T

AT&T

S&P500-Top50

49.95

2970

WMT

Walmart Stores

S&P500-Top50

49.64

3032

UNP

Union Pacific

S&P500-Top50

49.21

3122

VVCIF

Vivo Cannabis Inc.

Cannabis

49.07

3158

AVGO

Broadcom Limited

S&P500-Top50

48.94

3177

BRK.B

Berkshire Hathaway

S&P500-Top50

48.85

3190

KHRNF

Khiron Life Sciences Corp.

Cannabis

48.15

3300

MCD

McDonald's Corporation

S&P500-Top50

48.09

3304

TLRY

Tilray Inc.

Cannabis

47.92

3328

UTX

United Technologies Corporation

S&P500-Top50

47.16

3450

EEVVF

Eve & Co Inc.

Cannabis

46.40

3567

VZ

Verizon Communications

S&P500-Top50

46.32

3582

CMCSA

Comcast Corporation

S&P500-Top50

45.72

3677

CRON

Cronos Group Inc.

Cannabis

45.47

3712

BAC

Bank of America

S&P500-Top50

45.18

3762

AAPL

Apple

S&P500-Top50

45.05

3775

SNNVF

Sunniva Inc.

Cannabis

44.99

3788

WFC

Wells Fargo

S&P500-Top50

44.54

3846

JPM

JPMorgan Chase & Company

S&P500-Top50

43.26

3994

C

Citigroup

S&P500-Top50

42.34

4087

PEP

PepsiCo

S&P500-Top50

42.31

4091

ACB

Aurora Cannabis

Cannabis

41.30

4186

MMNFF

Medmen Enterprises

Cannabis

41.20

4194

BA

Boeing Company (The)

S&P500-Top50

41.17

4198

CBWTF

Cannabis Wheaton Income Corp.

Cannabis

39.63

4310

GGTTF

GTEC Holdings

Cannabis

36.79

4478

GGBXF

Green Growth Brand

Cannabis

35.07

4567

KO

Coca-Cola Company (The)

S&P500-Top50

34.84

4582

IBM

International Business Machines Corp.

S&P500-Top50

34.61

4595

NACNF

National Access Cannabis Corp.

Cannabis

33.47

4625

CANN

General Cannabis Corp.

Cannabis

30.08

4757

VRNDF

Delta 9 Cannabis Inc.

Cannabis

NA

N/A

RLLRF

SugarBud Craft Growers Corp.

Cannabis

NA

N/A

WSLFF

Westleaf Inc.

Cannabis

NA

N/A

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

Of the universe of 5,062 scored companies, some of the big names ranked extremely low. In fact, Tilray Inc (3,328), Cronos Group Inc. (3712), Aurora Cannabis (4,186), Medmen Enterprises (4,194), Green Growth Brand (4,567) and General Cannabis Corp. (4,757) all received very low Financial Quality rankings. Too many liabilities and not enough earnings at this point.

Exhibit 7 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 totalled 5,091. Two, SugarBud Craft Growers Corp. (OTC:RLLRF) and Westleaf Inc. (OTCQB:WSLFF), failed to score.

There were only 21 of the Cannabis 50 that received Composite Growth scores above 50 in the universe of 5,091; 15 were above 60; 11 were above 70; and five scored from 80.59 up to MediPharm Labs (OTCQX:MEDIF) at 86.11.

MediPharm in fact ranked #5, Flowr Corp. (OTCPK:FLWPF) ranked #10, and Charlotte’s Web (OTCQX:CWBHF) ranked #16. Out of 5,091 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 7)

Peergroup

Score

Universe rank (5091)

MEDIF

MediPharm Labs Corp.

Cannabis

86.11

5

FLWPF

Flowr Corp.

Cannabis

84.11

10

CWBHF

Charlotte's Web

Cannabis

82.36

16

EMHTF

Emerald Health Therapeutics

Cannabis

81.24

29

ZBISF

Zenabis Global Inc.

Cannabis

80.59

34

IIPR

Innovative Industrial Properties Inc.

Cannabis

79.96

37

HEXO

Hexo Corp.

Cannabis

79.25

40

CURLF

Curaleaf Holdings, Inc.

Cannabis

77.68

58

CRLBF

Cresco Labs Inc.

Cannabis

75.03

83

CTST

CannTrust Holdings Inc.

Cannabis

73.46

107

TCNNF

Trulieve Cannabis Corp.

Cannabis

73.42

110

APHA

Aphria Inc.

Cannabis

67.71

293

GTBIF

Green Thumb Industries Inc.

Cannabis

67.47

299

OGRMF

Organigram Holdings Inc.

Cannabis

67.14

315

ACRGF

Acreage Holdings

Cannabis

65.08

424

FB

Facebook

S&P500-Top50

61.69

658

AVGO

Broadcom Limited

S&P500-Top50

59.69

842

DIS

Walt Disney Company (The)

S&P500-Top50

59.50

871

SPRWF

Supreme Cannabis Company

Cannabis

58.50

980

CMCSA

Comcast Corporation

S&P500-Top50

58.14

1021

C

Citigroup

S&P500-Top50

58.06

1023

XOM

Exxon Mobil Corporation

S&P500-Top50

56.30

1192

BA

Boeing Company (The)

S&P500-Top50

55.61

1280

ADBE

Adobe Systems

S&P500-Top50

54.42

1437

MA

Mastercard

S&P500-Top50

54.06

1492

SNNVF

Sunniva Inc.

Cannabis

53.95

1505

V

Visa

S&P500-Top50

53.92

1515

MSFT

Microsoft Corporation

S&P500-Top50

53.89

1520

PYPL

PayPal Holdings

S&P500-Top50

53.83

1533

GOOGL

Alphabet

S&P500-Top50

53.63

1566

CRON

Cronos Group Inc.

Cannabis

53.57

1577

CRM

Salesforce.com, Inc.

S&P500-Top50

53.33

1619

NFLX

Netflix

S&P500-Top50

52.80

1724

AMZN

Amazon.com

S&P500-Top50

52.67

1750

MRK

Merck & Company

S&P500-Top50

52.52

1774

CSCO

Cisco Systems

S&P500-Top50

52.39

1801

EEVVF

Eve & Co Inc

Cannabis

52.29

1829

ORCL

Oracle Corporation

S&P500-Top50

52.00

1889

JPM

JPMorgan Chase & Company

S&P500-Top50

51.96

1902

ABBV

AbbVie

S&P500-Top50

51.94

1906

ACN

Accenture

S&P500-Top50

51.83

1941

UNH

UnitedHealth Group

S&P500-Top50

51.58

2000

UNP

Union Pacific

S&P500-Top50

51.53

2017

IVITF

Invictus MD Strategies Corp.

Cannabis

51.49

2028

AAPL

Apple

S&P500-Top50

51.47

2033

CVX

Chevron Corporation

S&P500-Top50

51.46

2036

UTX

United Technologies Corporation

S&P500-Top50

51.25

2082

GGBXF

Green Growth Brand

Cannabis

51.12

2121

NKE

Nike

S&P500-Top50

51.12

2122

BAC

Bank of America

S&P500-Top50

51.05

2141

TMO

Thermo Fisher Scientific Inc.

S&P500-Top50

51.03

2150

ABT

Abbott Laboratories

S&P500-Top50

50.75

2229

JNJ

Johnson & Johnson

S&P500-Top50

50.15

2396

BRK.B

Berkshire Hathaway

S&P500-Top50

50.01

2432

VRNDF

Delta 9 Cannabis Inc.

Cannabis

49.81

2471

COST

Costco Wholesale Corporation

S&P500-Top50

49.67

2501

MDT

Medtronic PLC

S&P500-Top50

49.39

2572

T

AT&T

S&P500-Top50

49.18

2621

HD

Home Depot (The)

S&P500-Top50

48.84

2678

CGC

Canopy Growth Corporation

Cannabis

48.65

2716

KO

Coca-Cola Company (The)

S&P500-Top50

48.36

2759

PG

Procter & Gamble Company

S&P500-Top50

47.98

2803

PM

Philip Morris International

S&P500-Top50

47.45

2853

CRBP

Corbus Pharmaceuticals Holdings Inc

Cannabis

47.42

2855

MCD

McDonald's Corporation

S&P500-Top50

47.38

2858

PEP

PepsiCo

S&P500-Top50

47.22

2869

PFE

Pfizer

S&P500-Top50

46.90

2898

LLY

Eli Lilly and Company

S&P500-Top50

46.90

2899

INTC

Intel Corporation

S&P500-Top50

46.84

2905

HON

Honeywell International

S&P500-Top50

46.72

2917

WFC

Wells Fargo

S&P500-Top50

46.72

2918

KHRNF

Khiron Life Sciences Corp.

Cannabis

46.71

2919

TLRY

Tilray Inc.

Cannabis

45.33

3022

GWPH

GW Pharmaceuticals PLC

Cannabis

45.23

3027

KSHB

Kush Bottles Inc.

Cannabis

45.14

3037

VZ

Verizon Communications

S&P500-Top50

44.41

3065

WMT

Walmart Stores

S&P500-Top50

44.12

3082

VVCIF

Vivo Cannabis Inc.

Cannabis

42.02

3176

CNPOF

Canopy Rivers Inc.

Cannabis

41.56

3191

INSY

Insys Therapeutics Inc.

Cannabis

40.00

3266

ZYNE

Zynerba Pharmaceuticals Inc.

Cannabis

35.85

3474

TGODF

Green Organic Dutchman

Cannabis

34.19

3562

IBM

International Business Machines Corp.

S&P500-Top50

34.11

3568

MMNFF

Medmen Enterprises

Cannabis

30.30

3808

CBWTF

Cannabis Wheaton Income Corp.

Cannabis

29.09

3864

ACB

Aurora Cannabis

Cannabis

29.07

3867

WDDMF

WeedMD Inc.

Cannabis

26.16

3978

PHCEF

PharmaCielo Ltd.

Cannabis

21.61

4120

HRVOF

Harvest One Cannabis

Cannabis

20.64

4141

IMLFF

InMed Pharmaceuticals

Cannabis

17.27

4207

NXTTF

Namaste Technologies Inc.

Cannabis

4.69

4828

NWKRF

Newstrike Brands

Cannabis

3.77

4935

NDVAF

Indiva Ltd.

Cannabis

2.82

4987

TBPMF

Tetra Bio Pharma Inc.

Cannabis

2.73

4992

NCNNF

48North Cannabis Corp.

Cannabis

2.60

4998

CANN

General Cannabis Corp.

Cannabis

2.49

5013

GGTTF

GTEC Holdings

Cannabis

1.75

5050

NACNF

National Access Cannabis Corp.

Cannabis

1.53

5059

RLLRF

SugarBud Craft Growers Corp.

Cannabis

0

5077

WSLFF

Westleaf Inc.

Cannabis

0

5077

Exhibit 8, which is the final illustration in our study series, is our proprietary Composite Score for Value.

Of a ranked universe that totalled 5,091, 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 (OTCPK: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 8)

Peergroup

Score

Universe rank (5091)

T

AT&T

S&P500-Top50

66.66

513

ABBV

AbbVie

S&P500-Top50

64.74

654

C

Citigroup

S&P500-Top50

60.92

939

INTC

Intel Corporation

S&P500-Top50

60.46

992

VZ

Verizon Communications

S&P500-Top50

60.40

998

IBM

International Business Machines Corp.

S&P500-Top50

60.26

1011

CVX

Chevron Corporation

S&P500-Top50

60.10

1027

WFC

Wells Fargo

S&P500-Top50

59.62

1078

BAC

Bank of America

S&P500-Top50

58.89

1153

AVGO

Broadcom Limited

S&P500-Top50

58.01

1261

WDDMF

WeedMD Inc.

Cannabis

56.67

1411

XOM

Exxon Mobil Corporation

S&P500-Top50

56.58

1421

CMCSA

Comcast Corporation

S&P500-Top50

56.51

1431

JPM

JPMorgan Chase & Company

S&P500-Top50

56.50

1432

HD

Home Depot (The)

S&P500-Top50

54.76

1665

BRK.B

Berkshire Hathaway

S&P500-Top50

53.70

1805

UNH

UnitedHealth Group

S&P500-Top50

52.00

2055

WMT

Walmart Stores

S&P500-Top50

51.94

2070

FB

Facebook

S&P500-Top50

51.42

2156

TCNNF

Trulieve Cannabis Corp.

Cannabis

51.12

2200

PFE

Pfizer

S&P500-Top50

50.98

2225

DIS

Walt Disney Company (The)

S&P500-Top50

50.66

2278

UTX

United Technologies Corporation

S&P500-Top50

50.61

2286

COST

Costco Wholesale Corporation

S&P500-Top50

50.24

2347

GOOGL

Alphabet

S&P500-Top50

49.73

2427

AAPL

Apple

S&P500-Top50

49.37

2480

JNJ

Johnson & Johnson

S&P500-Top50

49.31

2489

MDT

Medtronic PLC

S&P500-Top50

49.15

2515

ACN

Accenture

S&P500-Top50

49.06

2529

ORCL

Oracle Corporation

S&P500-Top50

49.03

2536

PM

Philip Morris International

S&P500-Top50

48.73

2567

MRK

Merck & Company

S&P500-Top50

48.47

2612

HON

Honeywell International

S&P500-Top50

47.96

2676

VRNDF

Delta 9 Cannabis Inc.

Cannabis

47.74

2704

IVITF

Invictus MD Strategies Corp.

Cannabis

47.34

2767

UNP

Union Pacific

S&P500-Top50

47.25

2785

CSCO

Cisco Systems

S&P500-Top50

47.00

2818

PEP

PepsiCo

S&P500-Top50

46.93

2826

ABT

Abbott Laboratories

S&P500-Top50

46.80

2846

PG

Procter & Gamble Company

S&P500-Top50

46.53

2873

CWBHF

Charlotte's Web

Cannabis

46.48

2875

TMO

Thermo Fisher Scientific Inc.

S&P500-Top50

46.40

2891

MSFT

Microsoft Corporation

S&P500-Top50

45.77

2966

ZBISF

Zenabis Global Inc.

Cannabis

45.19

3028

AMZN

Amazon.com

S&P500-Top50

44.98

3050

KO

Coca-Cola Company (The)

S&P500-Top50

44.43

3098

IIPR

Innovative Industrial Properties Inc.

Cannabis

43.71

3151

V

Visa

S&P500-Top50

43.28

3191

NKE

Nike

S&P500-Top50

43.26

3192

LLY

Eli Lilly and Company

S&P500-Top50

43.24

3196

CRM

Salesforce.com, Inc.

S&P500-Top50

43.15

3206

BA

Boeing Company (The)

S&P500-Top50

42.61

3242

ADBE

Adobe Systems

S&P500-Top50

42.31

3273

MCD

McDonald's Corporation

S&P500-Top50

41.89

3316

INSY

Insys Therapeutics Inc.

Cannabis

41.71

3323

MA

Mastercard

S&P500-Top50

40.76

3392

PYPL

PayPal Holdings

S&P500-Top50

39.88

3454

OGRMF

Organigram Holdings Inc.

Cannabis

38.70

3515

HRVOF

Harvest One Cannabis

Cannabis

38.19

3536

MEDIF

MediPharm Labs Corp.

Cannabis

37.00

3595

SNNVF

Sunniva Inc.

Cannabis

34.74

3722

KSHB

Kush Bottles Inc.

Cannabis

30.84

3937

APHA

Aphria Inc.

Cannabis

30.84

3938

GGBXF

Green Growth Brand

Cannabis

30.43

3957

GTBIF

Green Thumb Industries Inc.

Cannabis

30.15

3974

EEVVF

Eve & Co Inc.

Cannabis

27.97

4073

FLWPF

Flowr Corp.

Cannabis

0

4212

EMHTF

Emerald Health Therapeutics

Cannabis

0

4212

HEXO

Hexo Corp.

Cannabis

0

4212

CURLF

Curaleaf Holdings, Inc.

Cannabis

0

4212

CRLBF

Cresco Labs Inc.

Cannabis

0

4212

CTST

CannTrust Holdings Inc.

Cannabis

0

4212

ACRGF

Acreage Holdings

Cannabis

0

4212

SPRWF

Supreme Cannabis Company

Cannabis

0

4212

CRON

Cronos Group Inc.

Cannabis

0

4212

NFLX

Netflix

S&P500-Top50

0

4212

CGC

Canopy Growth Corporation

Cannabis

0

4212

CRBP

Corbus Pharmaceuticals Holdings Inc.

Cannabis

0

4212

KHRNF

Khiron Life Sciences Corp.

Cannabis

0

4212

TLRY

Tilray Inc.

Cannabis

0

4212

GWPH

GW Pharmaceuticals PLC

Cannabis

0

4212

VVCIF

Vivo Cannabis Inc.

Cannabis

0

4212

CNPOF

Canopy Rivers Inc.

Cannabis

0

4212

ZYNE

Zynerba Pharmaceuticals Inc.

Cannabis

0

4212

TGODF

Green Organic Dutchman

Cannabis

0

4212

MMNFF

Medmen Enterprises

Cannabis

0

4212

CBWTF

Cannabis Wheaton Income Corp.

Cannabis

0

4212

ACB

Aurora Cannabis

Cannabis

0

4212

PHCEF

PharmaCielo Ltd

Cannabis

0

4212

IMLFF

InMed Pharmaceuticals

Cannabis

0

4212

NXTTF

Namaste Technologies Inc.

Cannabis

0

4212

NWKRF

Newstrike Brands

Cannabis

0

4212

NDVAF

Indiva Ltd.

Cannabis

0

4212

TBPMF

Tetra Bio Pharma Inc.

Cannabis

0

4212

NCNNF

48North Cannabis Corp.

Cannabis

0

4212

CANN

General Cannabis Corp.

Cannabis

0

4212

GGTTF

GTEC Holdings

Cannabis

0

4212

NACNF

National Access Cannabis Corp.

Cannabis

0

4212

RLLRF

SugarBud Craft Growers Corp.

Cannabis

0

4212

WSLFF

Westleaf Inc.

Cannabis

0

4212

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.

Conclusion

The above analysis ranks the popular cannabis stocks alongside the household S&P 50 names. While cannabis stocks will remain more volatile for trading, long-term investors need to put into perspective the Growth/Value trade-off. Many high growth, high potential cannabis companies currently offer more attractive firm valuations than any of the S&P 50 names, notably Insys Therapeutics, Invictus MD Strategies, Delta 9 Cannabis, WeedMD, Harvest One Cannabis. In addition to the individual firm stories, investors should stay focused on the cannabis firms’ expected growth rates shown above with an eye on attractively-valued cannabis stocks relative to an alternative investment in S&P 50 names.

To finish this article, we present the WMA system-generated buy-sell list for the Cara Cannabis 50 stocks for the week ending May 24. Based on our proprietary algorithms, we come up with a recommendation for all of our 5,200 companies in each of our thematic categories (Growth, Value, Yield). We provide below the WMA Fundamental recommendations for the Growth category for our 50 Cannabis company and 50 Bluechips. Note once again, we run a daily timing model to improve entry/exit points on these fundamentally-generated buy recommendations.

Ticker

Name

GROWTH COMP

APHA

Aphria Inc.

Strong Buy

CTST

CannTrust Holdings Inc.

Strong Buy

CWBHF

Charlotte's Web

Strong Buy

CRLBF

Cresco Labs Inc.

Strong Buy

CURLF

Curaleaf Holdings, Inc.

Strong Buy

EMHTF

Emerald Health Therapeutics

Strong Buy

FLWPF

Flowr Corp.

Strong Buy

GTBIF

Green Thumb Industries Inc.

Strong Buy

HEXO

Hexo Corp.

Strong Buy

IIPR

Innovative Industrial Properties Inc.

Strong Buy

MEDIF

MediPharm Labs Corp.

Strong Buy

TCNNF

Trulieve Cannabis Corp.

Strong Buy

ZBISF

Zenabis Global Inc.

Strong Buy

ACRGF

Acreage Holdings

Buy

CRON

Cronos Group Inc.

Buy

OGRMF

Organigram Holdings Inc.

Buy

VRNDF

Delta 9 Cannabis Inc.

Hold

EEVVF

Eve & Co Inc.

Hold

GGBXF

Green Growth Brand

Hold

IVITF

Invictus MD Strategies Corp.

Hold

SNNVF

Sunniva Inc.

Hold

SPRWF

Supreme Cannabis Company

Hold

CGC

Canopy Growth Corporation

Sell

CNPOF

Canopy Rivers Inc.

Sell

CRBP

Corbus Pharmaceuticals Holdings Inc.

Sell

INSY

Insys Therapeutics Inc.

Sell

KHRNF

Khiron Life Sciences Corp.

Sell

KSHB

Kush Bottles Inc.

Sell

VVCIF

Vivo Cannabis Inc.

Sell

ACB

Aurora Cannabis

Strong Sell

CBWTF

Cannabis Wheaton Income Corp.

Strong Sell

TGODF

Green Organic Dutchman

Strong Sell

GWPH

GW Pharmaceuticals PLC

Strong Sell

HRVOF

Harvest One Cannabis

Strong Sell

IMLFF

InMed Pharmaceuticals

Strong Sell

MMNFF

Medmen Enterprises

Strong Sell

PHCEF

PharmaCielo Ltd.

Strong Sell

TLRY

Tilray Inc.

Strong Sell

WDDMF

WeedMD Inc.

Strong Sell

ZYNE

Zynerba Pharmaceuticals Inc.

Strong Sell

NCNNF

48North Cannabis Corp.

No Rating

CANN

General Cannabis Corp.

No Rating

GGTTF

GTEC Holdings

No Rating

NDVAF

Indiva Ltd.

No Rating

NXTTF

Namaste Technologies Inc.

No Rating

NACNF

National Access Cannabis Corp.

No Rating

NWKRF

Newstrike Brands

No Rating

RLLRF

SugarBud Craft Growers Corp.

No Rating

TBPMF

Tetra Bio Pharma Inc.

No Rating

WSLFF

Westleaf Inc.

No Rating

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.