After breaking a string of eleven consecutive monthly declines in February, the American Cannabis Operator Index fell 4.2% in March to 38.99:
The index, which fell 23.4% in Q4, has declined 6.5% in 2022 from its year-end 2021 close of 41.71, though it has lifted 12.3% from the 2022 closing low set on March 14th at 34.73:
After gaining 45.7% in 2020, it lost 33.9% in 2021. It closed 66% below the peak of 116.17 on February 10, 2021 and 169% above the all-time closing low on March 18, 2020 at 14.50:
During March, the index included 19 companies, including 14 multi-state operators (MSOs), 2 single-state operators (SSOs) and 3 focused solely on CBD extracted from industrial hemp. 4 companies posted gains, while 3 declined by more than 10% during the month, with a median return of -5.9%:
The four worst performing stocks during the month included Jushi Holdings (CSE: JUSH) (OTC: JUSHF), Cresco Labs (CSE: CL) (OTC: CRLBF) TPCO Holding (CSE: GRAM.U) (OTC: GRAMF) and Charlotte’s Web (TSX: CWEB) (OTC: CWBHF).
For April, the index will include 18 names following the removal of TPCO Holding, which no longer meets the minimum requirements for inclusion.
In the next monthly review, we will summarize the performance for April 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.