The Global Cannabis Stock Index shook off a mid-month meltdown for the second straight month but still fell for the third consecutive month, declining 2.7% to 59.57:
The index, which is down 4.8% quarter-to-date, had 46 qualifying members during the month following the quarterly rebalancing at the end of March and the removals of Aphria at the end of April and GW Pharma in early May. After increasing 5.2% in 2020 to 44.39, it is now up 34.2% in 2021. It has declined 35.6% from its 2021 closing high of 92.48 on February 10th but has gained 83.2% over the past year:
After posting an all-time closing low of 16.95 set on March 18, 2020, the index has rallied sharply to end the month 251% higher but still down 67% from its early 2018 closing high at 180.02:
The strongest 4 names in May all gained at least 20%:
- Harvest Health and Recreation (CSE: HARV) (OTC: HRVSF): +42.8%
- urban-gro (NASDAQ: UGRO): +25.8%
- Clever Leaves (NASDAQ: CLVR): +22.1%
- Organigram (TSX: OGI) (NASDAQ: OGI): +20.9%
Following the pending acquisition by Trulieve, Harvest has gained 92% in 2020. urban-gro has increased 26%. Clever Leaves is up 37%. Organigram has rallied 141%.
The 4 weakest names in May all declined by more than 20%:
- Taat Global Alternatives (CSE: TAAT) (OTC: TOBAF): -32.0%
- RIV Capital (TSX: RIV) (OTC: CNPOF): -21.4%
- cbdMD (NYSE American: YCBD): -21.3%
- Evogene (TASE: EVGN) (NASDAQ: EVGN): -20.2%
Despite the large decline this past month, Taat Global Alternatives has gained 11% in 2021 thus far. RIV Capital is up 61%. cbdMD has increased 3%. Evogene has dropped 26%.
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 Bounce Sharply From Mid-May Lows
- American Cannabis Companies Continued to Consolidate in May
- Ancillary Cannabis Stocks Dip 2.5% in May
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.
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