Global Cannabis Stock Index Bounces Hard in October

After breaking a long negative streak in July of 17 straight months down and then a rally of 4.3%, the Global Cannabis Stock Index fell 1.3% in August. In September, it posted a new all-time closing low on 9/30 at 11.26 and ended the month down 25.9%. In October, the index lifted sharply, rising 17.1% to 13.18:

After falling 23.7% in Q3, the index, after the October bounce, is now down 59.9% in 2022:

Since the peak in February 2021, the Global Cannabis Stock Index has dropped 83.7% from the 81.01 closing high:

The strongest 4 names in October all rose at least 37%:

Ayr Wellness had a great month, but it was down more than 46% in September and remains down 73.4% year-to-date. Tilray Brands has declined 42.1%. 22nd Century Group is now down 57.7% year-to-date. Trulieve, one  of the weakest names in September at -40.6%, has dropped 55.2% this year.

The 4 weakest names in October all declined except for the 4th worst, which rallied 1%:

All four of the weakest stocks trade on the NASDAQ and are relatively new. We think this is a great reminder to be careful with new stocks in the cannabis sector. Bright Green, an $8 Direct Listing in May that soared initially, is now down 92.5% from that price. AgriFORCE, a 2021 $5 IPO, is down a lot more from then than its 2022 year-to-date decline of 40.9%. Hempacco, spun out of an OTC sub-penny stock, has crashed since it began trading. This was its first month as a member of the index, which was the case for BYND Cannasoft Enterprises as well.

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. A more complete analysis of the index is available at

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.

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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