The Global Cannabis Stock Index fell for the fifth consecutive month, declining 7.8% to 52.67:
The index, which was down 8.7% during Q2, had 44 qualifying members during the month following the quarterly rebalancing at the end of June. After increasing 5.2% in 2020 to 44.39, it is now up 18.7% in 2021. It has declined 43.1% from its 2021 closing high of 92.48 on February 10th but has gained 64.2% 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 211% higher but still down 71% from its early 2018 closing high at 180.02:
The strongest 4 names in July all gained at least 12%:
- Flora Growth (NASDAQ: AGFY): +110.8%
- Agrify (NASDAQ: AGFY): +60.5%
- Turning Point Brands (NYSE: TPB): +15.8%
- Innovative Industrial Properties (NYSE: IIPR): +12.5%
Flora Growth has increased 57% since its IPO in May, and Agrify is up 113% since its IPO earlier this year. Turning Point Brands has gained 19%in 2021, while Innovative Industrial properties is up 17%.
The 4 weakest names in July all declined by more than 30%:
- HEXO Corp (TSX: HEXO) (NYSE: HEXO): -31.4%
- Neptune Wellness (TSX: NEPT) (NASDAQ: NEPT): -31.1%
- iPower (NASDAQ: IPW): -31.0%
- 22nd Century Group (NYSE American: XXII): -30.7%
HEXO, which was one of the weakest names in June, is now up 8% in 2021. Neptune has declined 48%. iPower has gained 42% since its May IPO. 22nd Century Group remains up 46% so far this year.
We have also published separate reviews of the performance of the Canadian LP Index , the American Cannabis Operators Index and the Ancillary Cannabis Index:
- Large LPs Lead Canadian Cannabis Stocks Lower by Nearly 10% in July
- American Cannabis Stocks Return to Year-End Levels in July
- Ancillary Cannabis Stocks Drop 5% in June Despite Surge in One Stock
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.