The American Cannabis Operator Index extended its post-March weakness again in September, declining 17.9% to 50.59, similar to the two prior months:
The index, which launched at the end of October with a value of 100, traded as low as 70.64 in late December after having reached a closing high of 124.16 in early November. This past month, it ended at the lows, capping a quarterly decline of 42.1%, and it is now down 34.5% in 2019:
During September, the index included 26 companies, including 20 multi-state operators (MSOs) and 5 focused solely on CBD extracted from industrial hemp. Several MSOs are pursuing CBD strategies apart from their state-licensed cannabis businesses. 4 companies managed gains, while 17 posted double-digit losses, including 9 that lost more than 25% of their value:
Sunniva (CSE: SNN) (OTC: SNNVF), which lost over 60% of its value in August, rebounded in September. The three worst performers included two companies that began trading earlier this year, TILT Holdings (CSE: TILT) (OTC: TLLTF) and SLANG Worldwide (CSE: SLNG) (OTC: SLGWF), as well as CBD supplier CV Sciences (CSE: CVSI).
For October, the number of names in the index will increase by 2 to 28. Joining the index are CBD producer Abacus Health Products (CSE: ABCS) (OTC: ABAHF) and MSOs Dixie Brands (CSE: DIXI) (OTC: DXBRF) and 4Front (CSE: FFNT) (OTC: FFNTF). United Cannabis (OTC: CNAB) was removed due to not meeting the trading volume requirement.
In the next monthly review, we will summarize the performance for October 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.