Author: Alan Brochstein, CFA

[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, With just two weeks remaining in 2023, the NCV Global Cannabis Stock Index is down 18.8% year-to-date. After the horrible 2022, when the index fell more than 70%, cannabis investors deserved better. The S&P 500 is up 22.9% in price. After rallying ahead of the index early in the year, the…

[ad_1] December 12, 2023 at 4:46 pm Michigan cannabis sales for November were down for the fourth consecutive month. At $260.5 million, sales fell 0.9% sequentially with the shorter month. They were up 28.1% from a year earlier: The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 72.0% from a year ago to $3.8 million, down 14.0% sequentially, and adult-use sales expanding 35.2% year-over-year to $256.7 million, down 0.7% sequentially: The state breaks out sales by category and provides pricing detail by category, for both medical and adult-use: Medical CannabisAdult-Use CannabisAs supply continues to expand,…

[ad_1] December 12, 2023 at 2:53 pm Illinois adult-use cannabis sales in November were up slightly sequentially to $139.1 million, an increase of 0.3% from October despite one less day. The gain was 6.6% from a year ago: After increasing 106% in 2021 and then 13% in 2022, year-to-date adult-use sales are up 5.2% in the first 10 months to $1.48 billion. During November, sales to non-residents were down from October’s  level of 24.3% to 24.2%, the lowest in a few years: The state separately releases sales from its medical program, and the release for November was published today. Sales fell 2.5% sequentially to…

[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, In a bull market for stocks, cannabis stocks are sitting it out. Despite the recent rally, they are down 13.9% this year as measured by the NCV Global Cannabis Stock Index. We have discussed all year how cannabis stocks are cheap relative to how they have been valued historically. Investors looking…

[ad_1] December 7, 2023 at 7:40 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 0.7% sequentially in October after decreasing a small amount in September, according to cannabis data analytics firm BDSA. Looking at a per-day basis, sales decreased 3.9% sequentially. In this review, we share the results by state, beginning with the eastern markets and then concluding with the western markets. In total, BDSA estimates that sales across the 11 markets totaled $1.78 billion during the month. Western Markets BDSA provides coverage for Arizona, California, Colorado,…

[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, the second-to-last month of 2023 ended. As we detailed in two articles, cannabis stocks advanced in November, with the NCV Global Cannabis Stock Index rebounding after a massive loss in October. The rally extended on the first day of December, but the index is still down 17.5% in 2023…

[ad_1] As we described in a previous article, the Global Cannabis Stock Index rebounded 8.1% in November after a huge October loss. That index is now down 20.1% year-to-date, which has 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. American Cannabis Stocks Index…

[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, rising 8.1% to 7.76: 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…

[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, Five weeks ago, we talked about how much more attractive cannabis stocks had become, and they then fell sharply the last week of October. November, though, has been a solid month, with the NCV Global Cannabis Stock Index up 8.6% so far. That’s almost as much as the S&P 500, which has…

[ad_1] November 24, 2023 at 8:49 am Statistics Canada released September retail sales for the country, with cannabis sales slipping from the very strong August levels, down 4.9% to C$444.0 million. August was revised  higher to C$467.0 million. The sales, which fell 1.8% on a per-day basis, were up 13.2% from a year ago, down from the 19.7% August growth rate. In 2022, total sales increased 17.9% to C$4.52 billion, and they have increased 13.8% during the first nine months of 2023. An increase in the number of stores as well as falling flower prices that bring consumers from the illicit market…

[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 August, and there will be many financial releases very soon. 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 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, After the horrible year the cannabis sector had in 2022, many had hoped for a better 2023. Well, it has been better, but it has not been good at all. The New Cannabis Ventures Global Cannabis Stock Index is down 20.5% year-to-date after the bigger decline in 2022. Since the bear…