The Global Cannabis Stock Index fell for the ninth consecutive month, declining 9.6% to 37.13:
The index, which was down 21.2% in Q3, had 42 qualifying members during the month and is now down 17.5% in Q4. After increasing 5.2% in 2020 to 44.39, it is now down 16.4% in 2021. It has declined 59.8% from its 2021 closing high of 92.48 on February 10th and has lost 17.0% 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 119.2% higher but still down 79.4% from its early 2018 closing high at 180.02:
The strongest 4 names in November all gained at least 7%:
- High Tide (TSXV: HITI) (NASDAQ: HITI): +14.7%
- InterCure (TASE: INCR) (NASDAQ: INCR): +7.9%
- Taat Global Alternatives (CSE: TAAT) (OTC: TOBAF): +10.6%
- Columbia Care (NEO: CCHW) (CSE: CCHW) (OTC: CCHWF): +7.0%
High Tide has gained 109% in 2021, while InterCure has lost 28% since year-end, when it was trading as a SPAC. Taat Global Alernatives has gained 17%, and Columbia Care has declined 47% year-to-date.
The 4 weakest names in November all declined by more than 29%:
- Flora Growth (NASDAQ: FLGC): -53.0%
- WM Technology (NASDAQ: MAPS): -41.4%
- Greenlane Holdings (NASDAQ: GNLN): -29.8%
- AgriFORCE Growing Systems (NASDAQ: AGRI): -29.5%
Flora Growth has lost 59% since its $5 IPO in May. WM Technology has declined 44% since year-end, when it was trading as a SPAC. Greenlane has lost 70% in 2021, while AgriForce has dropped 57% since its July IPO at $5.
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 Drop 5.5% in November
- American Cannabis Operator Index Outperforms Broader Sector as It Declines 7%
- Ancillary Cannabis Index Declines 10.6% in November
We will summarize the index performance again in a month and provide a summary of the year-end rebalancing. 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.