After a 57.4% gain in Q1 followed by a pullback that had left it down 1% year-to-date as of the end of August, the Global Cannabis Stock Index moved sharply lower again in September, declining 16.0% to 53.25:
The index, which had 52 qualifying members during the month following the quarterly rebalancing at the end of June, declined 54.9% in 2018 and has now lost 16.8% as of the end of September:
The decline left the index at levels not seen in over two years and down more than 70% from its early 2018 high:
4 names gained more than 5% during September:
- Body and Mind (CSE: BAMM) (OTC: BMMJ): +16.7%
- 22nd Century Group (NYSE American: XXII): +15.3%
- PharmaCielo (TSXV: PCLO) (OTC: PHCEF): +8.2%
- Namaste Technologies (TSXV: N) (OTC: NXTTFF): +5.0%
4 names fell by more than 45% during September, with several having substantial exposure to the vape industry:
- KushCo Holdings (OTC: KSHB): -60.5%
- TILT Holdings (CSE: TILT) (OTC: TLLTF): -56.2%
- CV Sciences (OTC: CVSI): -48.7%
- Greenlane Holdings (NASDAQ: GNLN): -45.3%
We have also published separate reviews of the performance of the Canadian LP Index and the American Cannabis Operators Index:
- Canadian LP Index Posts Third Consecutive Double-Digit Monthly Percentage Decline in September
- American Cannabis Operators Index Drops 18% in September
The quarterly rebalancing at the end of September leaves the index with 44 names. Joining the index are cannabis retailer Fire & Flower (TSX: FAF) (OTC: FFLWF) and Canadian licensed producer Sundial Growers (NASDAQ: SNDL), while ten companies were removed due to insufficient trading volume, including Akerna (NASDAQ: KERN), AYR Strategies (CSE: AYR) (OTC: AYRSF), Body and Mind, cbdMD (NYSE American: YCBD), EnWave (TSXV: ENW) (OTC: NWVCF), Green Growth Brands (CSE: GGB) (OTGC: GGBXF), India Globalization Company (NYSE American : IGC), SLANG Worldwide (CSE: SLNG) (OTC: SLGWF), TILT Holdings and WeedMD (TSXV: WMD) (OTC: WDDMF).
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 last year and tracks the leading cultivators, processors and retailers of cannabis in the United States.