The Global Cannabis Stocks Index Extends Its Rally in November

After breaking a long negative streak in July of 17 straight months down with 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, and it extended the rally in November, lifting 3.7% to 13.67:

After falling 23.7% in Q3 and rallying 21.4% so far in Q4, the index is now down 58.4% in 2022:

Since the peak in February 2021, the Global Cannabis Stock Index has dropped 83.1% from the 81.01 closing high:

The strongest 4 names in November all rose at least 21%:

GrowGeneration performed the best, extending upon its small gain in October to be up now 94% QTD, the best of all index stocks. BYND Cannasoft extended upon its small gain in October and is up 75.3% in Q4. Curaleaf, down joust 21.4% in 2022, has lifted by 34.0% in Q4. Scotts Miracle-Gro is up 30.8% QTD but is down 65.3% YTD.

The 4 weakest names in November all declined by more than 11%:

WM Technology fell to a new all-time low during the month and is down 27.3% in Q4 and 80.4% YTD. Ayr Wellness, one of the strongest names last month, is up 16.7% in Q4. Hempacco, one of the worst stocks in October, is down 32.0% in Q4. Aurora Cannabis has rallied 4.1% QTD.

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 420Investor.com.

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.

Get ahead of the crowd by signing up for 420 Investor when it becomes available again. It’s the largest & most comprehensive premium service for cannabis investors since 2013.

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

Get Our Sunday Newsletter