From the deeply depressed year-end 2022 close of 9.71, the Global Cannabis Stock Index rose 10.1% in January to 10.69.
The index fell 23.7% in Q3 and 13.8% in Q4, ending 2022 down 70.4%:
Since the peak in February 2021, the Global Cannabis Stock Index has dropped 88.4% from the 92.48 closing high:
The strongest 4 names in January all rose by more than 31%:
All of these stocks fell tremendously in 2022. There was no news driving the rebounds.
The 4 weakest names in January all declined by more than 11%:
Village Farms was hammered after an equity offering. Columbia Care has moved to a massive discount to the deal price implied by its pending merger with Cresco Labs. Innovative Industrial Properties moved to a new multi-year low after providing a Q4 update. Trulieve has been weak with many other multi-state operators and has neared its low set in March of 2021.
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.
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.
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