After a 57.4% rebound in Q1 followed by a narrow decline in April and a sharp one in May, Cannabis stocks, as measured by the Global Cannabis Stock Index, moved slightly lower in June, declining 2.5%:
The index, which had 64 qualifying members during the month following the quarterly rebalancing at the end of March, declined 54.9% in 2018 but has rallied 40.8% since the 2018 low set on December 24th. Global cannabis stocks have gained 31.5% in the first half of 2019 despite the gyrations in the market:
5 names gained more than 20% during June:
- India Globalization Capital (NYSE American: IGC): +60.8%
- Innovative Industrial Properties (NYSE: IIPR): +47.0%
- Tilray (NASDAQ: TLRY): +22.5%
- Westleaf (TSXV: WL) (OTC: WSLFF): +22.0%
- KushCo Holdings (OTC: KSHB): +21.0%
4 names fell by more than 20% during June:
- TILT Holdings (CSE: TILT) (OTC: SVVTF): -29.6%
- Emerald Health (TSXV: EMH) (OTC: EMHTF): -28.4%
- Namaste Technologies (TSXV: N) (OTC: NXTTF): -27.9%
- Green Growth Brands (CSE: GGB) (OTC: GGBXF): -20.4%
We have also published separate reviews of the performance of the American Cannabis Operators Index:
- American Cannabis Stocks Score Third Consecutive Monthly Decline
- Canadian Cannabis LPs Give Up More Ground in June
This month we rebalanced the index, a quarterly process, using the same criteria employed at the end of March and as described in detail in the description section of the index. For Q3, the index begins with 52 names, down 14, with 7 additions and 19 deletions. All of the names removed failed to meet the trading volume requirements. The new names include:
- Akerna (NASDAQ: KERN), a software company that includes MJ Freeway
- AYR Strategies (NEO: AYR) (OTC: CBAQF), a multi-state operator
- Body & Mind (CSE: BAMM) (OTC: BMMJ). a multi-state operator
- cbdMD (NYSE American: YCBD), a branded CBD product seller
- Enwave (TSXV: ENW) (OTC: NWVCF), a diversified company with several LP customers for its cannabis drying technology
- Greenlane (NASDAQ: GNLN), a distributor of vape products for the cannabis and e-cig markets
- Planet 13 Holdings (CSE: PLTH) (OTC: PLNHF), a Nevada cannabis company expanding to California
We will summarize the index performance again in a month. You can learn more about the index members and the qualifications for inclusion by visiting the Global Cannabis Stock Index. Be sure to bookmark the page to stay current on cannabis stock price movements within the day or from day-to-day.
New Cannabis Ventures maintains six proprietary indices designed to help investors monitor the publicly-traded cannabis stocks, including the Global Cannabis Stock Index as well as the Canadian Cannabis LP Index and its three sub-indices. The sixth index, the American Cannabis Operator Index, was launched at the end of October and tracks the leading cultivators, processors and retailers of cannabis in the United States.
