Author: Alan Brochstein, CFA

[ad_1] November 13, 2023 at 12:31 pm Michigan cannabis sales for October were down for the third consecutive month. At $262.9 million, sales fell 4.3% sequentially despite the longer month. They were up 25.5% from a year earlier, the lowest since August 2022: The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 70.7% from a year ago to $4.9 million, down 10.2% sequentially, and adult-use sales expanding 33.0% year-over-year to $258.5 million, down 4.2% sequentially: The state breaks out sales by category and provides pricing detail by category, for both medical and adult-use: Medical CannabisAdult-Use…

[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, About five months ago, we wrote about Canopy Growth, saying it was a potential zero. The good news is that zero is as low as it can go! The company reported its fiscal Q2 this week, and it published its 10-Q and hosted a call. The top-line continues to sink. 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, Two weeks ago, we warned our readers that we are still in a bear market. Since that newsletter was published, the New Cannabis Ventures Global Cannabis Stock Index has fallen 7.5%. The index is now down 19.5% in 2023: With the decline since the market peaked on September 11th, the index…

[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, We weren’t exactly pounding the table last week, but we did express how the pullback in cannabis stocks had warmed us to the sector a little. We did not see this week ahead, for sure! The New Cannabis Ventures Global Cannabis Stock Index fell 11.4% to an all-time low of 6.93,…

[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, with the index falling 21.7% to 7.18: 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.…

[ad_1] As we described in a previous article, the Global Cannabis Stock Index plunged in October after three consecutive monthly gains. That index is now down 26.1% 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 led the way lower in October. American Cannabis Stocks Index The American Cannabis Operator Index was crushed, losing 28.1%…

[ad_1] November 2, 2023 at 4:25 pm Illinois adult-use cannabis sales in October were down slightly sequentially to $138.8 million, a decrease of 0.6% from September despite the extra day. The gain was 5.5% from a year ago: After increasing 106% in 2021 and then 13% in 2022, year-to-date adult-use sales are up 5.0% in the first 9 months to $1.34 billion. During October, sales to non-residents were down from September’s  level of 24.7% to 24.3%, the lowest in a few years: The state separately releases sales from its medical program, and the release for October was published today. Sales rose 0.9%…

[ad_1] November 5, 2023 at 10:52 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 1.3% sequentially in September after increasing 3.5% in August, according to cannabis data analytics firm BDSA. Looking at a per-day basis, sales increased 2.0% 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 $1.80 billion during the month. Western Markets BDSA provides coverage for Arizona, California, Colorado, Nevada 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, It has been a little over a year since we discussed how Florida may legalize for adult-use. In that review of the market there, we pointed to the strong but slowing patient growth. The state is still seeing growth in the number of patients, but it is the lowest it has ever…

[ad_1] October 10, 2023 at 6:33 pm Michigan cannabis sales for September were down for the second consecutive month, stalling near their all-time high set in July at $276.7 million. At $274.7 million, sales fell 0.6% sequentially but were up 29.6% from a year earlier: The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 70.4% from a year ago to $4.9 million, down 12.6% sequentially, and adult-use sales expanding 38.1% year-over-year to $269.8 million, down 0.3% sequentially: The state breaks out sales by category and provides pricing detail by category, for both medical…

[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, A year ago, we wrote about the cannabis market having a great week. In early October, President Biden had surprised the world with his pardoning of cannabis consumers in federal prison and by suggesting that he would order a review of the DEA scheduling of cannabis. The NCV Global Cannabis Stock Index…