In this exclusive article we will summarize the performance of the managed indices that New Cannabis Ventures offers to its readers. We will discuss the performance of the Global Cannabis Stock Index, American Cannabis Operator Index, Ancillary Cannabis Index and Canadian Cannabis LP Index as well as Canadian Cannabis LP index Tier 1, 2 and 3.
Global Cannabis Stock Index
After 14 consecutive monthly declines, the Global Cannabis Stock Index lost 12.9% in May, closing at 19.19. The index had 35 members during the month.
The Global Cannabis Stock Index has now declined 41.6% in 2022 from its year-end 2021 close of 32.85.
The following stocks all gained at least 5%:
- AgriFORCE Growing Systems (Nasdaq: AGRI)
- AFC Gamma Inc. (NASDAQ: AFCG)
- Curaleaf Holdings Inc (OTC: CURLF) (CSE: CURA)
The three weakest stocks during the month all declined by more than 30%:
- Akanda (NASDAQ: AKAN)
- Aurora Cannabis (NASDAQ: ACB) (TSX: ACB)
- Flora Growth (NASDAQ: FLGC)
American Cannabis Stocks Index
American Cannabis Stocks Index After breaking a string of eleven consecutive monthly declines in February of this year, the American Cannabis Operator Index fell 7.5% in May to 27.83.
The index has now declined 33.3% in 2022 from its year-end 2021 close of 41.71.
During May, 5 companies posted gains, while 3 declined by more than 20%, with a median return of -6.8%.
The strongest 3 names in May included:
- Grove Inc. (NASDAQ: GRVI)
- cbdMD Inc. (NYSEAMERICAN: YCBD)
- Curaleaf Holdings Inc (OTC: CURLF) (CSE: CURA)
The stock that declined the most was Charlotte’s Web Holdings Inc (OTC: CWBHF) (TSX: CWEB).
Ancillary Cannabis Index
The Ancillary Cannabis Index gave back its bounce earlier in the year, declining 12.8% in May to $36.08:
The index has declined 43.9% in 2022 from its year-end 2021 close of $64.27.
During May, the Ancillary Cannabis Index included 14 members with one posting a gain and 3 declining by more than 25%, with a median return of -10.5%.
The strongest name during the month:
- AFC Gamma Inc. (NASDAQ: AFCG)
The weakest names:
- Akerna (Nasdaq: KERN)
- Hydrofarm (Nasdaq: HYFM)
- CEA Industries (NASDAQ: CEAD, CEADW)
Canadian Cannabis LP Index
The Canadian Cannabis LP Index fell for the eleventh consecutive month, declining 14.9% to $118.56 in May with a median return of -14.3%.
The index has declined 39.2% in 2022 from its year-end 2021 close of $194.95.
The index had only one member that posted a gain:
- Emerald Health Therapeutics Inc. (TSXV: EMH) (OTC: EMHTF)
There were 3 stocks with outsized losses during the month that all declined by more than 30%:
- Aurora Cannabis (NASDAQ: ACB) (TSX: ACB)
- HEXO Corp. (TSX: HEXO) (Nasdaq: HEXO)
- MediPharm Labs (TSX: LABS) (OTCQX: MEDIF)
Canadian Cannabis LP Tier 1 Index
Tier 1 index fell 26.3% to $155.5 in May. Tier 1, which is now down 50.5% in 2022, dropped 17.7% in 2021 when it ended at $314.28. Among tier 1 companies, Aurora Cannabis (NASDAQ: ACB) (TSX: ACB) saw the largest decline, tumbling 45.4%.
Canadian Cannabis LP Tier 2 Index
Tier 2 index fell 13.7% to $165.4 in May. In 2021, it lost 17.1%, closing at $267.36, and it is now down 38.1% in 2022. Among tier 2 companies, Entourage Health Corp. (TSX-V: ENTG) (OTCQX: ETRGF) was the worst performer, falling 25%.
Canadian Cannabis LP Tier 3 Index
Tier 3 index fell 10.3% to $30.56 in May. It ended at $47.42 in 2021, declining 19.9%, and is now down 35.6% in 2022. Among tier 3 companies, the worst performer was MediPharm Labs (TSX: LABS) (OTCQX: MEDIF), which fell 33.3%.
For the month of June 2022, we have added Schwazze (OTCQX: SHWZ) (NEO: SHWZ), Gaby (OTCQB: GABLF) (CSE: GABY) and Vibe Growth (OTCQX: VIBEF) (CSE: VIBE) to the American Cannabis Operator Index. Next month we will summarize the performance of these indices again. You can learn more about the index members and the qualifications for inclusion by visiting the respective page for each index that we manage. Be sure to bookmark that page to stay current on cannabis stock price movements within the day or from day-to-day.
New Cannabis Ventures maintains seven 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 2018 and tracks the leading cultivators, processors and retailers of cannabis in the United States. Afterwards, we introduced the Ancillary Cannabis Index at the end of March 2021, reflecting the increasing number of publicly-traded companies providing goods or services to cannabis operators.
