The Global Cannabis Stock Index fell for the fourth consecutive month, declining 4.1% to 57.10:
The index, which was down 8.7% during Q2, 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 28.6% in 2021. It has declined 38.3% from its 2021 closing high of 92.48 on February 10th but has gained 94.2% 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 237% higher but still down 68% from its early 2018 closing high at 180.02:
The strongest 4 names in June all gained at least 15%:
- Agrify (NASDAQ: AGFY): +27.0%
- KushCo Holdings (OTC: KSHB): +17.7%
- RIV Capital (TSX: RIV) (OTC: CNPOF): +15.7%
- India Globalization Capital (NYSE American: IGC): +15.5%
Agrify is up 19% since its IPO earlier this year. KushCo Holdings, ahead of its pending merger with Greenlane (NASDAQ: GNLN), is up 41% in 2021. RIV Capital has gained 86%. India Globalization is up 5%.
The 4 weakest names in June all declined by more than 20%:
- Goodness Growth (CSE: GDNS) (OTC: GDNSF): -25.3%
- Charlotte’s Web (TSX: CWEB) (OTC: CWBHF): -25.2%
- Columbia Care (CSE: CCHW) (NEO: CCHW) (OTC: CCHWF): -23.2%
- HEXO Corp (TSX: HEXO) (NYSE: HEXO): -20.9%
Despite the large decline this past month, Goodness Growth (formerly Vireo Health) has gained 24% in 2021 thus far. Charlotte’s Web has gained 8%. Columbia Care has declined 23%, while HEXO Corp has gained 58%.
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 Gain 1% in June
- American Cannabis Company Stocks Fall for Fourth Consecutive Month
- Ancillary Cannabis Stocks Advance 3.3% in June
For Q3, the index will have 44 members, with eight additions and ten removals. Joining the index are AFC Gamma (NASDAQ: AFCG), Flora Growth (NASDAQ: FLGC), Forian (NASDAQ: FORA), High Tide (TSXV: HITI) (NASDAQ: HITI), IM Cannabis (CSE: IMCC) (NASDAQ: IMCC), iPower (NASDAQ: IPW), Jazz Phama (NASDAQ: JAZZ) and WM Technology (NASDAQ: MAPS). Exiting are Acreage Holdings (CSE: ACRG.A.U) (OTC: ACRHF), cbdMD (NYSE American: YCBD), Goodness Growth (CSE: GDNS) (OTC: GDNSF), KushCo Holdings (OTC: KSHB), Power REIT (NYSE American: PW), RIV Capital (TSX: RIV) (OTC: CNPOF), SOL Global (CSE: SOL) (OTC: COLCF), Sundial (NASDAQ: SNDL) and TAAT Lifestyle (CSE: TAAT) (OTC: TOBAF). We shared a more extensive discussion of these changes with subscribers of 420 Investor, our premium service.
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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