As we described in an article released earlier, the Global Cannabis Stock Index moved lower again in January, falling 7.3%. It was down 15.2% in 2024.
In this article, we summarize the performance of the other managed indices that New Cannabis Ventures offers to its readers. We discuss the performance of the American Cannabis Operator Index, Ancillary Cannabis Index and Canadian Cannabis LP Index. The index that had been the strongest since the DEA was asked by the Department of Health & Human Services in late August to reschedule cannabis has been very volatile since then and was down again. Ancillary, which was the strongest sub-sector in 2024, fell slightly, while Canadian LPs fell just a bit too despite weakness in the two largest names.
American Cannabis Stocks Index
The American Cannabis Operator Index peaked last April on potential rescheduling news and sank for the rest of 2024. In January, it experienced more of the decline, with the index falling 6.2% to 7.84:
In 2024, this index was down 45.5% to 8.36 after it rallied 7.6% in 2023 despite the overall weakness in cannabis stocks, and it posted a new all-time low during January :
The index, which launched in October 2018, made an all-time low a year ago in August 2023 before soaring. It is down a lot from when it launched:
The best performing MSO in January was Ayr Wellness (OTC: AYRWF) (CSE: AYR.A), which was the weakest in November and December. During January, it rose 2.1%. Curaleaf (OTC: CURLF) (TSX: CURA) was the weakest stock, falling 15.4%.
In February, the index will have 11 members, as Grown Rogue (OTC: GRUSF) (CSE: GRIN) returns.
Ancillary Cannabis Index
The Ancillary Cannabis Index was weak in December but had a good year last year. In January, it fell 0.4% to 13.71:
After a massive loss of 76.6% in 2022, it declined 10.9% in 2023, which was better than the Global Cannabis Stock Index, and it was up 2.9% in 2024 to 13.77:
The index is down over 86% since launching at the end of March in 2021:
The best performing stock in the index in January was Innovative Industrial Properties (NYSE: IIPR), rising 7.6%. The three other REITs declined. The worst stock was GrowGeneration (NASDAQ: GRWG), declining 17.2%.
In February, the index will have eight members again.
Canadian Cannabis LP Index
The Canadian Cannabis LP Index had a rough year in 2024, but it ended 2024 with a bounce and began 2025 by dropping 2.5% during January to 48.87:
The index, which fell 62.8% in 2022 and 16.2% in 2023, declined 17.7% in 2024 to 50.11:
The LP index is down a lot from its peak, which hit more than 5 years ago in early 2018:
The Canadian LPs trade mainly below C$1, with only six of the stocks having a higher price at the end of January. 1 of the 9 stocks in the index closed below C$0.25. During December, Aurora Cannabis (TSX: ACB) (NASDAQ: ACB) dropped 13.6%. Canopy Growth (TSX: WEED) (NASDAQ: CGC) fell 27.2% to a new all-time low. Cronos Group (TSX: CRON) (NASDAQ: CRON) slipped 5.5%. Organigram (TSX: OGI) (NASDAQ: OGI) dipped 4.4%. Tilray Brands (TSX: TLRY) (NASDAQ: TLRY) fell to a new all-time low with a 18.4% loss.
In February, the index will again have ten members.
