The Global Cannabis Stock Index shook off a mid-month meltdown but still fell for the second consecutive month, declining 2.2% to 61.19:
The index, which had 48 qualifying members during the month following the quarterly rebalancing at the end of March, increased 5.2% in 2020 to 44.39 and is now up 37.8% in 2021. It has declined 34.0% from its 2021 closing high of 92.48 on February 10th:
After posting an all-time closing low of 16.95 set on March 18, 2020, the index has rallied sharply to end the month 261% higher but still down 66% from its early 2018 closing high at 180.02:
The strongest 4 names in April all gained at least 16%:
- 22nd Century Group (NYSE American: XXII): +42.2%
- Taat Global Alternatives (CSE: TAAT) (OTC: TOBAF): +40.7%
- The Valens Company (TSX: VLNS) (OTC: VLNCF): +33.3%
- Jushi Holdings (CSE: JUSH) (OTC: JUSHF): +16.6%
With its strong rally in April, Valens has now increased 123.5% in 2021. 22nd Century has gained 112.7%. Taat Global Alternatives has rallied 63.9%, and Jushi has advanced 21.8%.
The 4 weakest names in April all declined by more than 17%:
- Sundial Growers (NASDAQ: SNDL): -23.6%
- Organigram (TSX: OGI) (NASDAQ: OGI): -23.5%
- Tilray (NASDAQ: TLRY): -19.3%
- Greenlane (NASDAQ: GNLN): -17.1%
Despite the decline in April, Tilray has gained 122.0% in 2021. Organigram has increased 99.6%. Sundial has advanced 82.4%, and Greenlane has rallied 11.1%.
We have also published separate reviews of the performance of the Canadian LP Index , the American Cannabis Operators Index and the Ancillary Cannabis Index:
- Canadian Cannabis Stocks Continue to Consolidate in April
- American Cannabis Operators Index Slips 4% in April
- New Cannabis Ventures Introduces Ancillary Stock Index
We will summarize the index performance again in a month. You can learn more about the index members and the qualifications for inclusion by visiting the Global Cannabis Stock Index. A more complete analysis of the index is available at 420Investor.com. Be sure to bookmark the page to stay current on cannabis stock price movements within the day or from day-to-day.
New Cannabis Ventures maintains seven proprietary indices designed to help investors monitor the publicly-traded cannabis stocks, including the Global Cannabis Stock Index as well as the Canadian Cannabis LP Index and its three sub-indices. The sixth index, the American Cannabis Operator Index, was launched at the end of October 2018 and tracks the leading cultivators, processors and retailers of cannabis in the United States. More recently, we introduced the Ancillary Cannabis Index at the end of March 2021, reflecting the increasing number of publicly-traded companies providing goods or services to cannabis operators.