The American Cannabis Operator Index fell for the second straight month after having scored five straight monthly gains, declining 4.1% to 79.66:
After gaining 45.7% in 2020, when it ended at 63.05, the index is up 26.3% in 2021 and has rebounded 449.4% from an all-time closing low on March 18, 2020 at 14.50:
The index, which launched at the end of October 2018 with a value of 100, reached a closing high of 124.16 a week later before declining to 70.64 in late December 2018. It then rallied as high as 119.53 in early April 2019 before selling off over the balance of the year and into March 2020:
During April the index included 34 companies initially, including 30 multi-state operators (MSOs) and 4 focused solely on CBD extracted from industrial hemp. When Bluma Wellness was acquired by Cresco Labs, it was removed from the index. 5 companies posted double-digit returns, while 9 declined by more than 10% during the month:
The four best performing stocks in April included Cansortium (CSE: TIUM.U) (OTC: CNTMF), which was the strongest stock for the second consecutive month, Schwazze (OTC: SHWZ), Jushi Holdings (CSE: JUSH) (OTC: JUSHF) and Planet 13 Holdings (CSE: PLTH) (OTC: PLNHF). So far this year, Cansortium is up 40%, Schwazze is up 89%, Jushi is up 22%, and Planet 13 is up 22%.
The four worst performing stocks included HempFusion (CSE: CBD.U) (OTC: CBDHF), Terra Tech (OTC: TRTC) , SLANG Worldwide (CSE: SLNG) (OTC: SLGWF) and Stem Holdings (CSE: STEM) (OTC: STMH). Interestingly, none of these companies was included in the index at the beginning of the year. HempFusion, which was added last month, has traded back to its IPO price from early January. Terra Tech is up 72% year-to-date, SLANG Worldwide is down 4%, and Stem Holdings is up 19%.
For May, the index will include 29 stocks, with Harborside, Hollister Biosciences, iAnthus and SLANG Worldwide no longer meeting the criteria for inclusion as of April 28th.
In the next monthly review, we will summarize the performance for May 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.