After outperforming the overall cannabis market in September, the American Cannabis Operator Index fell for the eighth straight month after having scored five straight monthly gains, declining 11.6% to 48.14:

During Q3, the index lost 22.8%. After gaining 45.7% in 2020, when it ended at 63.05, the index is down 23.7% in 2021 and has gained 17.6% over the past year:

The index, which launched at the end of October 2018 with a value of 100, reached a closing high of 124.16 a week later before declining to 70.64 in late December 2018. It then rallied as high as 119.53 in early April 2019 before selling off over the balance of the year and into March 2020. It has rebounded 232.0% from an all-time closing low on March 18, 2020 at 14.50:

During October, the index included 30 companies, including 27 multi-state operators (MSOs) and 3 focused solely on CBD extracted from industrial hemp. Harvest Health was removed after the quarter began upon the closing of its acquisition.  3 companies posted double-digit gains, while 4 declined by more than 25% during the month, with a median return of -15.5%:

The four best performing stocks in October included Unrivaled Brands (OTC: UNRV), Grove Inc. (NASDAQ: GRVI), Schwazze (OTC: SHWZ) and Cansortium (CSE: TIUM.U) (OTC: CNTMF)

The four worst performing stocks during the month included iAnthus (CSE: IAN) (OTC: ITHUF),  Lowell Farms (CSE: LOWL) (OTC: LOWLF),  Green Thumb Industries (CSE: GTII) (OTC: GTBIF) and Columbia Care (NEO: CCHW) CSE: CCHW) (OTC: CCHWF)

For November, the index will include 18 stocks following an increase in the minimum daily trading value from $100K to $200K. Two stocks were removed for failing to meet the minimum price requirement of $0.25, and several failed to meet even the prior $100K minimum. There were no additions.

In the next monthly review, we will summarize the performance for November and discuss any additions or deletions. Be sure to bookmark the page to stay current on American cannabis operators stock price movements within the day or from day-to-day.

_{Note: This article has been corrected to properly reflect the table that includes all of the price changes}

Exclusive article by Alan Brochstein, CFA

Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email