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, Canada legalized cannabis for adult-use in 2018, and a lot of investors thought they saw the future for the United States. It wasn’t so easy for the country to get the job done. Recall that Canada already had a federally legal medical…
[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, While this has been a tough week for MSOs, which spiked early but then pulled back sharply on Thursday, cannabis stocks have performed very well this week so far. The NCV Global Cannabis Stock Index has rallied more than 1% so far,…
[ad_1] New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s monthly cannabis sales data for 11 states. Cannabis sales increased 1.7% sequentially in February after plunging in January, according to cannabis data analytics firm BDSA. With two fewer days, the growth on a per-day basis was 8.7%. In this review, we share the results by state, beginning with the western markets and then concluding with the eastern markets. In total, BDSA estimates that sales across the 11 markets totaled $1.74 billion during the month. Western Markets BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In February, year-over-year…
[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, The New Cannabis Ventures Global Cannabis Stock Index surged this month, and it is now up 26% in 2024 after the first quarter. This is a lot more than the performance of the rallying S&P 500, which is up just over 10%.…
[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. In March, the index rose 19.5% sequentially to 10.22: In 2023, Q1 saw a 12.5% decline, and the index dropped 11.8% in Q2. The 22.3% gain…
[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 was a big week for the Canadian cannabis industry, with the the Legislative Review of the Cannabis Act published yesterday afternoon. The Expert Panel, a group of five that wrote the report, was appointed by the Minister of Health and the…
[ad_1] March 22, 2024 at 8:44 am Statistics Canada released January retail sales for the country, with cannabis sales decreasing from the December levels, down 11.5% to C$400.7 million. December was revised higher to C$451.8 million. The sales were up just 1.2% from a year ago. This was down from the 19.8% August growth rate and the lowest annual growth rate since legalization commenced in December. In 2023, total sales increased 12.5% to C$5.09 billion. 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…
[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 late February, and it follows a flood of recent 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…
[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 week has been another rough one for MSOs, though we are not at all surprised. Another Tier 1 name reported, the fifth of five companies, and the four Tier 2 companies reported as well. Through Thursday’s close, the New Cannabis Ventures…
[ad_1] March 14, 2024 at 11:15 am Michigan cannabis sales for February were up sequentially after falling sharply in January. At $261.0 million, sales rose 7.5% sequentially but were still below the record set in December. They were up 20.6% from a year earlier: The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 78.2% from a year ago to $2.2 million, down 21.9% sequentially, and adult-use sales expanding 25.4% year-over-year to $258.9 million, up 7.7% sequentially: The state breaks out sales by category and provides pricing detail by category, for both medical and adult-use: Adult-Use…
[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 week was a rough one for MSOs, though we are not at all surprised. There were several Q4 reports from large MSOs late in February, but this week only a single large MSO reported. Curaleaf’s revenue and adjusted EBITDA for Q4…
[ad_1] New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s monthly cannabis sales data for 11 states. Cannabis sales decreased 7.1% sequentially in January after increasing a small amount in December, according to cannabis data analytics firm BDSA. In this review, we share the results by state, beginning with the western markets and then concluding with the eastern markets. In total, BDSA estimates that sales across the 11 markets totaled $1.71 billion during the month. Western Markets BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In January, year-over-year growth was negative in 3 of the 5 states,…