Cannabis stocks, as measured by the Global Cannabis Stock Index, added to big January gains, rallying 6.0% in February to 98.62:
The index, which had 42 qualifying members during the month, declined 54.9% in 2018 but has rallied 66.0% since the 2018 low set on December 24th and is up 54.0% to begin 2019:
Leading the way, all with returns in excess of 20%, were:
- Village Farms (TSX: VFF) (NASDAQ: VFF), +89.8%
- Pyxus International (NYSE: PYX), +66.3%
- Innovative Industrial Properties (NYSE: IIPR), +27.6%
- Green Thumb Industries (CSE: GTII) (OTC: GTBIF), +27.0%
- Curaleaf Holdings (CSE: CURA) (OTC: CURLF), +21.8%
Village Farms uplisted to the NASDAQ during the month. Innovative Industrial Properties raised capital successfully and was also added to the S&P 600 SmallCap Index.
Three names fell by more than 20% during February:
- Wayland Group (CSE: WAYL) (OTC: MRRCF), -27.0%
- Namaste Technologies (TSXV: N) (OTC: NXTTF), -24.7%
- Canopy Rivers (TSXV: RIV) (OTC: CNPOF), -20.6%
Wayland Group provided guidance on its Q4 and Q1 revenue during the month. Namaste Technologies fired its CEO, Sean Dollinger. Canopy Rivers, which had rallied 94% in January, gave up some of the gains after pricing an equity offering.
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. 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 six 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 and tracks the leading cultivators, processors and retailers of cannabis in the United States.
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