Author: Alan Brochstein, CFA
[ad_1] Cannabis stocks began the year with a bounce that ended quickly, and during June the Global Cannabis Stock Index fell again, dropping 2.2% to 7.50 with a 7.39 intraday all-time low and a 7.41 closing low late in the month: The end of 2022 was challenging, with the index falling 23.7% in Q3 and 13.8% in Q4, which contributed to a 70.4% decline for the full year. In 2023, Q1 saw a 12.5% decline, and the index, which dropped 11.8% in Q2, is now down 22.8% year-to-date: Since the peak in February 2021, the Global Cannabis Stock Index has dropped 91.9% from…
[ad_1] You’re reading a copy of 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. Friends, This week, Q2 will end. At this point, the New Cannabis Ventures Global Cannabis Stock Index, which closed at an all-time low on Friday, is down 10.5% so far this quarter and will likely post its 9th consecutive quarterly decline. Since the streak of quarterly declines began on 3/31/21, the cannabis…
[ad_1] Statistics Canada released April retail sales for the country, with cannabis sales rising from the March levels, up 1.3% to C$411.7 million. March was revised slightly higher to C$406.4 million. The sales, which rose 4.7% on a per-day basis, were up 10.3% from a year ago, down from the 13.1% March growth rate. In 2022, total sales increased 17.9% to C$4.52 billion, and they have increased 12.4% thus far in 2023. An increase in the number of stores as well as falling flower prices that bring consumers from the illicit market have been boosting sales. In Ontario, the largest province in…
[ad_1] You’re reading a copy of 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. Friends, Since our look at the larger Canadian LPs 12 weeks ago, when we shared a smarter way to invest in that sub-sector than Canopy Growth, our selections have all outperformed the stock, which has dropped 66.7%, substantially: We are glad to see the better performance from the LPs we suggested, but…