The cannabis industry kept consolidating this month, with at least six mergers and acquisitions deals announced in May alone. The latest was Golden Leaf Holdings (CSE:GLH) acquiring MPX Bioceutical (CSE:MPX) and MPX Bioceutical’s Maestros Acquisition. As you might recall from our last post, last month MPX Bioceutical announced a $5 million investment from Golden Leaf Holdings, which further secured the business relationship between the two companies.
The U.S. marijuana industry is consolidating as the investment climate remains extremely favorable for cannabis-focused companies, especially with the recent passage of the Farm Bill and the looming threat of cannabis prohibition being overturned.
In the month of May, 2018, American cannabis companies continued to consolidate. The price of the company’s outstanding shares went up.. Read more about ncv index and let us know what you think.
The U.S. Cannabis Operators Index fell for the third consecutive month after five consecutive monthly increases, dropping 2.3% to 77.86 : After rising 45.7% in 2020, when the index ended at 63.05, the index rose 23.5% in 2021 and gained 157.8% last year : The index, which started at 100 in late October 2018, reached a closing high of 124.16 a week later and then fell to 70.64 in late December 2018. The price then rose to 119.53 in early April 2019, followed by a sell-off over the course of the year and into March 2020. It stands 437.0% higher than its low of 14.50 on the 18th. March 2020 raised: In May, 29 companies were added to the index, including 25 multistate operators (MSOs) and 4 companies specializing exclusively in CBD from industrial hemp. Five companies posted double-digit gains, while 11 fell more than 10% during the month: The four best performing stocks in May were Marimed (OTC: MRMD), Harvest Health and Recreation (CSE: HARV) (OTC: HRVSF), Charlotte’s Web (TSX: CWEB) (OTC: CWBHF) and Vireo Health (CSE: VREO) (OTC: VREOF). Last year, Marimed grew 134%, Harvest grew 92%, Charlotte’s Web grew 45% and Vireo grew 43%. The four worst performing stocks for the month are HempFusion (CSE:CBD.U) (OTC:CBDHF), which was also the worst performing stock in April, cbdMD (NYSE American:YCBD), MedMen (CSE:MMEN) (OTC:MMNFF) and The Parent Company (NEO:GRAM.U) (OTC:GRAMF). HempFusion has lost 30% since its IPO earlier this year. cbdMD is up 3% in the past year, MedMen is up 117%. The parent company fell 39%. The index will include 30 stocks in June, with Terra Tech (OTC: TRTC) excluded after the company failed to meet the minimum price requirement for inclusion in the index as of the 26th. We won’t make it to May. Gage Growth (CSE:GAGE) (OTC:GAEGF) will join the index for the first time, while Chalice Farms (CSE:CHAL) (OTC:GLDFF), formerly Golden Leaf Holdings, will return after a reverse split. In next month’s review, we will summarize May’s results and discuss any additions or deletions. Bookmark this page to stay up to date on price changes in US cannabis operator stocks throughout the day or every day. Stay ahead of the crowd by subscribing to 420 Investor, the largest and most comprehensive subscription service for cannabis dealers and investors since 2013. Based in Houston, Alan draws on his experience as founder of the 420 Investor online community, the first and still largest integrated analysis platform focused on publicly traded cannabis stocks. Through his many connections in the cannabis community, Alan continues to find new ways to bring the industry together and promote sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Until early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent analyst and then for more than two decades in research and portfolio management. Alan is a prolific writer with over 650 articles published on Seeking Alpha since 2007, where he has 70,000 subscribers. He is a frequent speaker at industry conferences and appears regularly in the media, including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Get in touch with Alan: Twitter | Facebook | LinkedIn | E-mail
What’s New in Cannabis Stocks for the week ending 28/5/21
Gage Growth’s first quarter revenue increased 219% to $17.6 million
Vireo Health welcomes the addition of smoked flower to Minnesota’s medical cannabis program
HempFusion acquires maker of CBD-based topical products Sagely Naturals for $25 million
In this month of May, a number of American cannabis companies continued to consolidate. As of May 3rd the top ten companies, by revenue, were:. Read more about u.s. mso comparison and let us know what you think.
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