t's been about a month since I formalized my coverage of the cannabis sector after having spent six months researching it, sharing my initial review of all of the stocks with market caps in excess of $10mm in late August. (Note: here is a link to all previous articles referenced.) While I continue to harbor reservations about many of the publicly-traded companies that are leveraged to the legalization and expansion of medical and recreational marijuana, the "Green Rush" appears to be one of the most powerful longer-term investment themes today. I am so excited about the opportunities ahead that I have launched a service dedicated to helping my subscribers navigate the rapidly changing landscape, 420 Investor. In this article, I want to update the market information that I shared last month as well as to discuss some sharp divergences in performance among the sector's members.
The following table includes the 16 stocks that have market capitalization in excess of $10mm. Note that my calculation assumes that all convertible preferred stock is converted to common shares. This isn't generally an issue for listed stocks, but many penny stocks employ convertible preferred stock in the capital structure, a topic I wrote about in July because some companies abuse it.