In this exclusive article we will summarize the performance of the managed indices that New Cannabis Ventures offers to its readers. We will discuss the performance of the Global Cannabis Stock Index, American Cannabis Operator Index, Ancillary Cannabis Index and Canadian Cannabis LP Index as well as Canadian Cannabis LP index Tier 1, 2 and 3.
Global Cannabis Stock Index
After 13 consecutive monthly declines, the Global Cannabis Stock Index lost 21.4% in April, closing at 22.20 to extend the losing streak to 14 months. The index had 35 members during the month.
The Global Cannabis Stock Index has now declined 32.4% in 2022 from its year-end 2021 close of 32.85.
The three strongest names during the month all gained at least 2%:
The three weakest names during the month all declined by more than 36%:
- Ayr Wellness (CSE: AYR.A, OTCQX: AYRWF)
- Agrify (Nasdaq: AGFY)
- AgriFORCE Growing Systems (Nasdaq: AGRI)
- Hydrofarm (Nasdaq: HYFM)
American Cannabis Stocks Index
After breaking a string of eleven consecutive monthly declines in February of this year, the American Cannabis Operator Index fell 22.8% in April to 30.11.
The index has now declined 27.8% in 2022 from its year-end 2021 close of 41.71.
During April, all companies in the American Cannabis Operator Index posted losses, including 6 that lost more than 25% of their value, with a median return of -19.6%.
The four weakest stocks during the month all declined by more than 30%:
- Ayr Wellness (CSE: AYR.A, OTCQX: AYRWF)
- cbdMD Inc. (NYSEAMERICAN: YCBD)
- Trulieve (CSE: TRUL, OTCQX: TCNNF)
- Columbia Care (CSE: CCHW, OTCQX: CCHWF)
Ancillary Cannabis Index
The Ancillary Cannabis Index gave back its bounce earlier in the year, declining 21.8% in April to $41.36:
The index has declined 35.6% in 2022 from its year-end 2021 close of $64.27
During April, the Ancillary Cannabis Index included 14 members with just one posting a gain in excess of 10% and 9 declining by more than 20%, with a median return of -30.7%.
There was a single index member that posted a gain at more than 35%:
- Leafly (Nasdaq: LFLY)
The four weakest stocks during the month all declined by more than 35%:
Canadian Cannabis LP Index
The Canadian Cannabis LP Index fell for the tenth consecutive month, declining 16.3% to 138.84 in April, with a median return of -15.3%.
The index has declined 28.8% in 2022 from its year-end 2021 close of 194.95.
Similarly to the Ancillary index, the Canadian Cannabis LP Index, had only one index member that posted a gain in excess of 10%:
- Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF)
There were five stocks with outsized losses during the month that all declined by more than 30%:
- HEXO Corp. (TSX: HEXO) (Nasdaq: HEXO)
- Tilray Brands (TSX: TLRY) (Nasdaq: TLRY)
- MediPharm Labs (TSX: LABS) (OTCQX: MEDIF)
- The Valens Company (TSX: VLNS) (Nasdaq: VLNS)
- IM Cannabis Corp. (CSE: IMCC) (Nasdaq: IMCC)
Canadian Cannabis LP Tier 1 Index
Tier 1 index fell 24.5% to 211.04 in April. Tier 1, which is now down 32.8% in 2022, dropped 17.7% in 2021 when it ended at 314.28. Among tier 1 companies, TLRY saw the largest decline, 34%.
Canadian Cannabis LP Tier 2 Index
Tier 2 index fell 15.2 to 191.59 in April. In 2021, it lost 17.1%, closing at 267.36, and it is now down 28.3% in 2022. Among tier 2 companies, VLNS was the worst performer, falling 41%.
Canadian Cannabis LP Tier 3 Index
Tier 3 index fell 17% to 34.06 in April. It ended at 47.42 in 2021, declining 19.9%, and is now down 28.2% in 2022. Among tier 3 companies, the worst performer was IMCC, which fell 45.7%. The best performance among this group was CANN, which rallied 11.1%.
For the month of May 2022, there will be no additions or deletions of any of the members in the indices above. Next month we will summarize the performance of these indices again. You can learn more about the index members and the qualifications for inclusion by visiting the respective page for each index that we manage. Be sure to bookmark that 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. Afterwards, 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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