Global Cannabis Stocks Decline 10.0% in November

Cannabis stocks, as measured by the Global Cannabis Stock Index, extended the declines from mid-October, declining 10.0% to 80.32 in November:

The index, which has 61 qualifying members after the rebalancing at the end of September, has declined 43.5% in 2018 but is still up 41.3% from late October 2017, when the market ended a correction that followed the 2016 elections:

Despite the sharply lower prices, four names rallied  more than 20%:

22nd Century (NYSEMKTS: XXII), which has some exposure to hemp, was the best performing stock during the month. Cronos Group (TSX: CRON) (NASDAQ: CRON), one of the worst performers in October, bounced back and was the best performing Canadian LP during November. Cannabis REIT Innovative Industrial Properties (NYSE: IIPR) set an all-time high during the month after reporting a very solid Q3.

Seven stocks lost more than 33% of their value:

Both Pyxus International (NYSE: PYX), formerly Alliance One International, and MedMen (CSE: MMEN) (OTC: MMNFF), which was pressured due to an equity offering, were among the better performing stocks in October. Terra Tech (OTC: TRTC) reported a 33% decline from year-ago cannabis revenue in Q3, as we detailed in our review on the American Cannabis Operators Index. Aphria (TSX: APHA) (NYSE: APHA) was the worst performing large Canadian LP during the month, as we detailed in our review of the Canadian Cannabis LP 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. 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.

Exclusive article by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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