The global cannabis stock index was down just over 2.4 percent in May, taking the year’s total losses to over 3.6 percent. The index has now lost over 10 percent of its value since January 1 this year, when it hit a high of 1620 points.
The Global Cannabis Stock Index (Investor’s Choice) experienced another small decline on May 5th, a month after the index experienced a small increase on April 5th. Since the index is a combination of the U.S. Cannabis Index, and the Canadian Cannabis Index, a decline in the US cannabis index would have a negative impact on the index. While the Canadian cannabis index had a slight increase on April 5th, a decline on May 5th would be a negative sign for the index.
The Global Cannabis Stock Index overcame a mid-month slump for the second consecutive time, but still fell for a third consecutive session, losing 2.7% to 59.57 : The index, which fell 4.8% during the quarter, counted 46 qualified members during the month following a quarterly rebalancing in late March and the exclusion of Aphria in late April and GW Pharma in early May. After rising 5.2% in 2020 to 44.39, it will rise 34.2% in 2021. It is down 35.6% from its highest 2021 closing price of 92.48 on the 10th. February was down, but up 83.2% last year: Following the release of the index on 18. After reaching a record low of 16.95 on March 2020, it rebounded strongly to end the month up 252%, but still 67% below the closing high of 180.02 reached in early 2018 : The four strongest names were up at least 20% in May: With the upcoming acquisition by Trulieve, Harvest is up 92% by 2020. urban-gro grew 26%. Clever Leaves is up 37%. Organigram is up 141%. The 4 weakest names all fell by more than 20% in May: Despite a significant drop last month, Taat Global Alternatives is up 11% in 2021. RIV Capital is up 61%. cbd® is up 3%. Evogen is down 26%. We have also published separate performance overviews for the Canadian LP Index, the US Cannabis Operator Index and the Companion Cannabis Index: We will summarize the index again in a month. For more information on index participants and eligibility requirements, please visit the Global Cannabis Stock Index website. For a more complete analysis of the index, see 420Investor.com. Don’t forget to bookmark this page to stay informed about cannabis stock price changes throughout the day or from one day to the next. New Cannabis Ventures manages seven proprietary indices designed to help investors track publicly traded cannabis stocks, including the Global Cannabis Stock Index, as well as the Canadian Cannabis LP Index and its three sub-indices. A sixth index, the American Cannabis Operator Index, was launched in late October 2018 and tracks the top cannabis cultivators, processors and retailers in the United States. We recently launched the Ancillary Cannabis Index at the end of March 2021, which reflects the growing number of listed companies that provide goods or services to cannabis operators. 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 due diligence platform focused on publicly traded stocks in the cannabis sector. 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
In this section:
cbdMD, clever leaves, clvr, cnpof, evgn, evogene, HARV, Harvest Health and Recreation, HRVSF, OGI, Organigram, RIV, riv capital, taat, taat global alternatives, tobaf, ugro, urban-gro, ycbd
Canadian cannabis shares rebounded sharply after bottoming out in mid-May
US cannabis companies continue to consolidate in May
Cannabis shares down 2.5% in May
What’s New in Cannabis Stocks for the week ending 28/5/21