You’re reading this week’s edition of the New Cannabis Ventures weekly newsletter, which we have been publishing since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve as well as links to the week’s most important news. We no longer send these by email as we did in the past, but we post this and all of the newsletters on our website here.
Friends,
The New Cannabis Ventures Global Cannabis Stock Index has rallied slightly in May, rising 1.1% to 5.76. It is down year-to-date by 12.6%. The index, which was rebalanced as of the end of Q1, has rallied 9.9% so far in Q2, which is behind the S&P 500’s gain of 12.8%. Here are the returns of the 23 names currently in the index (SMG was removed as of the end of April subsequent to its sale of Hawthorne Gardening):
MSOs are up a lot, with the rally coming up to and after the big rescheduling announcement talk on 4/22. There are currently six MSOs, and two of them have soared. The rest are up, and the average for the six has been 38.1%. The AdvisorShares Pure US Cannabis ETF (MSOS) has gained 48.5% since the end of March and is up now 11.7% so far in 2026. Two names in the GCSI have fallen drastically, and the index has a total of seven double-digit gainers in Q2, with the six MSOs and Canopy Growth, which does have U.S. exposure through investments. 14 of the 23 names have returned less than the GCSI.
As readers are likely aware, the U.S. did reschedule medical cannabis on 4/23 from Schedule I to Schedule III, and this will wipe out 280E taxation for a part of the businesses of cannabis companies. The Department of Justice will be holding hearings beginning in late June to determine potential rescheduling for adult-use. If it passes, all 280E taxation will end, which is a good thing for cannabis companies and their investors as well as for the ancillary companies that service them. It is still not known what the outcome will be, and it is still not known how the 280E taxes from the past that have not been paid but are carried as liabilities (and not debt) will be handled. Also, there is still no conclusion on SAFER Banking or the potential to uplist.
NCV has quit publishing news, though we continue to update the financial calendar as well as the Revenue Ranking. After more than 10 years of running NCV and more than a dozen years of running 420 Investor, I am in the process of moving on. I have appreciated sharing the news and my views here, and I want to wish everyone the best. Hopefully, 280E taxation will be ending and the bear market that began in early 2021 for the cannabis sector will come to an end.
Sincerely,
Alan
This week’s newsletter is sponsored by Paul E. Saperstein Co.
Massachusetts Cannabis Production Equipment Sale
On May 12th, equipment from Middlesex Integrative Medicine, Inc. is being auctioned in Leominster, Massachusetts online at 10:00 A.M, ET. All bids must be delivered online. Find out more about the Secured Party Sale of all assets of this cultivation equipment.
Interested parties may contact Paul Cotto at 617-227-6553 or by email at pcotto@pesco.com.
New Cannabis Ventures publishes curated articles as well as exclusive news. Here is what we published this past 2 weeks:
Exclusives
Canadian Cannabis Sales Continued to Advance in February
View the Public Cannabis Company Revenue & Income Tracker, which ranks the top revenue producing cannabis stocks.
Stay on top of some of the most important communications from public companies by viewing upcoming cannabis investor calendar.
