Author: Alan Brochstein, CFA
[ad_1] You’re reading this week’s edition of the New Cannabis Ventures weekly newsletter, which we have been publishing since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve as well as links to the week’s most important news. We post this and all of the newsletters on our website here. Friends, Cannabis stocks are rallying hard in 2024. The New Cannabis Ventures Global Cannabis Stock Index is up by 33.5% so far. Of course, a major development is playing out: rescheduling. If cannabis is moved from Schedule 1 to Schedule 3, then 280E…
[ad_1] The Public Cannabis Company Revenue & Income Tracker, managed by New Cannabis Ventures, ranks the top revenue producing cannabis companies. This update is our first since late April, when we previewed the upcoming Q1 reports.. Tracker Rules This data-driven, fact-based tracker will continually update based on new financial filings so that readers can stay up to date. Companies must file with the SEC or SEDAR and be current to be considered for inclusion. When we launched this resource in May 2019, companies with quarterly revenue in excess of US$2.5 million qualified. As the industry has scaled and as more companies…
[ad_1] 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…
[ad_1] You’re reading this week’s edition of the New Cannabis Ventures weekly newsletter, which we have been publishing since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve as well as links to the week’s most important news. We post this and all of the newsletters on our website here. Friends, Things definitely changed this week! The DEA is planning to reschedule cannabis from Schedule 1 to Schedule 3. We have never suggested that rescheduling wouldn’t take place, but we were concerned with how much the stocks of the MSOs had rallied in…
[ad_1] Cannabis stocks, as measured by the Global Cannabis Stock Index, exploded higher in late August on news that the Department of Health and Human Services had recommended to the DEA that it move cannabis from Schedule 1 to Schedule 3, and the move continued into September. October wiped out the entire rally, and November and December saw the market recover some of the losses. In January, the rally continued, but it stalled in February and then exploded higher in March. It was down big during this month until an explosive rally on the last day. In April, the index rose…
[ad_1] The Public Cannabis Company Revenue & Income Tracker, managed by New Cannabis Ventures, ranks the top revenue producing cannabis companies. This update is our first since mid-March, when we reviewed the unexciting Q4 reports. Tracker Rules This data-driven, fact-based tracker will continually update based on new financial filings so that readers can stay up to date. Companies must file with the SEC or SEDAR and be current to be considered for inclusion. When we launched this resource in May 2019, companies with quarterly revenue in excess of US$2.5 million qualified. As the industry has scaled and as more companies have…
[ad_1] You’re reading this week’s edition of the New Cannabis Ventures weekly newsletter, which we have been publishing since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve as well as links to the week’s most important news. We post this and all of the newsletters on our website here. Friends, This has been a tough week for the largest MSOs, all of which have declined by more than 2.5%: There was no news, and stocks in general have had a tough week. One piece of news that did not take place may…
[ad_1] April 24, 2024 at 8:42 am Statistics Canada released February retail sales for the country, with cannabis sales decreasing from the January levels, down 6.4% to C$376.2 million. On a per-day basis, sales sales rose 0.4%. January was revised higher to C$402.0 million. The sales were up just 3.3% from a year ago. This was down from the 19.8% August growth rate and up from the lowest annual growth rate since legalization commenced in January of 1.6%. In 2023, total sales increased 12.5% to C$5.09 billion, and in 2024 they have increased just 2.4% from a year ago. An increase in…
[ad_1] You’re reading this week’s edition of the New Cannabis Ventures weekly newsletter, which we have been publishing since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve as well as links to the week’s most important news. We post this and all of the newsletters on our website here. Friends, Near the end of Q1, we shared a warning about the Canadian LP market, which had soared after the Legislative Review of the Cannabis Act. The New Cannabis Ventures Canadian Cannabis LP Index rallied the day we ran the newsletter, dropped and then…
[ad_1] April 17, 2024 at 10:48 am Illinois adult-use cannabis sales in March were up 9.8% sequentially to a $148.9 million, which was up by more than the increase in the length of the month. The gain was 10.4% from a year ago: After increasing 106% in 2021, 13% in 2022 and then 5% in 2023, year-to-date adult-use sales are up 9.1% in 2024 to $492 million. During March, sales to non-residents were 23.1%: The state separately releases sales from its medical program, and the release for March was published earlier this month. Sales rose 6.1% sequentially to $25.9 million, which was down 10.7% from…
[ad_1] Each week, Florida’s Office of Medical Marijuana Use (OMMU), which is part of the state’s Department of Health, releases data on the program, including an active patient count, a qualified physician count, new approvals and an update for each dispensary. That data includes the number of dispensaries and the weight of sales each week. This is the first New Cannabis Ventures article in what we expect will provide updates every month. This article is based upon the update that was provided Friday as of 4/11. Readers who are interested in the data going forward can visit the OMMU update…
[ad_1] April 12, 2024 at 11:05 am Michigan cannabis sales for March were up sequentially after rising in February. At $288.8 million, sales rose 10.6% sequentially and were a new record level. The sequential growth on a per-day basis was 3.5%. They were up 15.7% from a year earlier: The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 79.1% from a year ago to $2.1 million, down 6.0% sequentially, and adult-use sales expanding 19.6% year-over-year to $258.9 million, up 10.8% sequentially: The state breaks out sales by category and provides pricing detail by category, for…