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. Friends, After a bear market that started in early 2021, it sure feels like a bull market! The NCV Global Cannabis Stock Index has rallied 11.7% to start the year. It is up 22.1% since late August, when the news broke that the Department of Health & Human Services was recommending that the DEA move cannabis…
[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. Friends, Cannabis stocks shot up early in the year, but they have pulled back from their highs. The NCV Global Cannabis Stock Index is now up 7.2% in 2024 so far, but it is down 87.4% from its peak almost 3 years ago: Right before the news broke that the Department of Health & Human…
[ad_1] January 16, 2024 at 1:05 pm Michigan cannabis sales for December were were up sequentially for the first time since July. At $279.9 million, sales rose 7.5% sequentially with the longer month perhaps helping explain part of the gain. They were up 26.2% from a year earlier: The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 76.2% from a year ago to $3.2 million, down 15.8% sequentially, and adult-use sales expanding 32.8% year-over-year to a record $276.7 million, up 7.8% sequentially: The state breaks out sales by category and provides pricing detail by category,…
[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. Friends, We have been very clear for quite some time: There are better Canadian LPs to buy than Canopy Growth and Tilray, which are the most popular ones. One that we have suggested in the past is Organigram. What a week! We know that some bad news came out this week for both Canopy Growth…
[ad_1] January 11, 2024 at 1:21 pm Illinois adult-use cannabis sales in December were up 10.7% sequentially to a record $153.9 million, which was up by more than the increase in the length of the month. The gain was 7.0% from a year ago: After increasing 106% in 2021 and then 13% in 2022, year-to-date adult-use sales were up 5.3% in 2023 to $1.63 billion. During December, sales to non-residents were down from November’s level of 24.2% to 23.4%, the lowest in a few years: The state separately releases sales from its medical program, and the release for December was published on 01/09. Sales…
[ad_1] January 9, 2024 at 6:19 am New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s monthly cannabis sales data for 11 states. Cannabis sales decreased 0.8% sequentially in November after decreasing a similar amount in October, according to cannabis data analytics firm BDSA. Looking at a per-day basis, sales increased 2.5% sequentially. 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 $1.76 billion during the month. Western Markets BDSA provides coverage for Arizona, California, Colorado,…
[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. Friends, Last year began with a big rally for cannabis stocks that left us quite skeptical. We warned in early February to go slow when things are hot. We were bullish longer-term, but the low-volume rally left us concerned. This year, the NCV Global Cannabis Stock Index has rallied too, though not as strongly as…
[ad_1] As we described in a previous article, the Global Cannabis Stock Index extended the November bounce after the huge October loss, rallying 8.1% in December. That index was down 20.1% in 2023, which followed a record decline of 70.4% for 2022. In this article, we summarize the performance of the other managed indices that New Cannabis Ventures offers to its readers. We discuss the performance of the American Cannabis Operator Index, Ancillary Cannabis Index and Canadian Cannabis LP Index. The one that was quite strong in August and in September but led the way lower in October reversed in November, showing leadership. In December,…
[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. Friends, 2023 was another tough year for cannabis investors. The NCV Global Cannabis Stock Index fell 16.5%. Since the peak in early 2021, it’s down over 91%. A recovery is long overdue, and perhaps 2024 will be a better year for cannabis stocks. As we have said, we believe that cannabis stocks will react very…
[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 saw the market recover some of the losses. In December, the rally continued as the index rose 4.6% to 8.12: 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. …
[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. Friends, We used to cover the activities of MedMen when it was a leading cannabis company, but the last article we ran on the company was more than a year ago when the company exited Florida by selling its operations there. The company had some big news this week, but we didn’t share it because there…
[ad_1] December 21, 2023 at 8:51 am Statistics Canada released October retail sales for the country, with cannabis sales increasing from the very weak September levels, up 2.4% to C$448.6 million. September was revised lower to C$438.0 million. The sales, which fell 0.9% on a per-day basis, were up 15.0% from a year ago, down from the 19.8% August growth rate and up from the 11.7% September growth rate. In 2022, total sales increased 17.9% to C$4.52 billion, and they have increased 13.7% during the first ten months of 2023. An increase in the number of stores as well as falling flower prices…