Author: Alan Brochstein, CFA
[ad_1] October 5, 2023 at 1:35 pm New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s monthly cannabis sales data for 11 states. Cannabis sales increased 3.5% sequentially in August after increasing 0.8% in July, according to cannabis data analytics firm BDSA. Looking at a per-day basis, sales increased 3.5% sequentially since both months have 31 days. 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 $1.83 billion during the month. Eastern Markets BDSA provides…
[ad_1] October 4, 2023 at 3:55 pm Illinois adult-use cannabis sales in September were up slightly sequentially to $139.5 million, an increase of 0.2% from August. The gain was 6.8% 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 $1.20 billion. During September, sales to non-residents were up slightly from August’s level of 24.6% to 24.7%: The state separately releases sales from its medical program, and the release for September was published today. Sales fell 1.7% sequentially to $26.0 million, which was down 7.3% 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, Tilray Brands reports its Q1 on Wednesday. The stock, the worst-performing member of the NCV Global Cannabis Stock Index in September and now down 11.2% year-to-date, is very overvalued. With a $1.7 billion market capitalization, the company is still very significant to the cannabis sector, though it operates mainly outside of…
[ad_1] As we described in a previous article, the Global Cannabis Stock Index rallied for the third consecutive month, creating the first quarterly advance since 2021-Q1. That index is now down down 5.6% 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 rose again in September, but the other two fell. American Cannabis Stocks Index The American…
[ad_1] Cannabis stocks , as measured by the Global Cannabis Stock Index, exploded higher on 8/30 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 they ended up rallying for the entire month of August. They extended the gains in September, rising 2.9% to 9.17: 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%…
[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, The 3rd quarter will end this coming Friday, and it looks like the New Cannabis Ventures Global Cannabis Stock Index will post its first positive quarter since 2021 after 9 straight quarterly declines. The bounce was due, of course, to the potential rescheduling of cannabis. Despite the bounce, the cannabis market…
[ad_1] September 22, 2023 at 8:41 am Statistics Canada released July retail sales for the country, with cannabis sales rising from the strong June levels, up 1.9% to C$446.1 million, another new record for a month. June was revised higher to C$437.7 million. The sales, which fell 1.4% on a per-day basis, were up 13.6% from a year ago, down from the 15.8% June growth rate. In 2022, total sales increased 17.9% to C$4.52 billion, and they have increased 12.9% during the first seven months of 2023. An increase in the number of stores as well as falling flower prices that bring…
[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, The cannabis sector has been rallying like crazy! It is now up year-to-date but slightly behind the S&P 500’s gain of 15.9%. The NCV Global Cannabis Sector Index has gained 14.4% in 2023 thus far, though it is still down from where it was a year ago: The driver of the…
[ad_1] September 13, 2023 at 5:13 pm Michigan cannabis sales were unchanged in August from July, down just slightly from the record of $276.7 million to $276.3 million. The growth of 32.9% from a year ago was up from the 31.8% level last month: The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 69.5% from a year ago to $5.6 million, down 8.3% sequentially, and adult-use sales expanding 42.9% year-over-year to $270.6 million, unchanged 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 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, Cannabis investors have been plowing into a very beaten-up part of the market, the American cannabis operators, after the HHS revealed that it has requested that the DEA reschedule cannabis from Schedule 1 to Schedule 3. As we discussed last week, this is great news if it plays out, as it…
[ad_1] September 6, 2023 at 8:22 am New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s monthly cannabis sales data for 11 states. Cannabis sales increased 0.8% sequentially in July after increasing 0.3% in June, according to cannabis data analytics firm BDSA. Looking at a per-day basis, sales decreased 2.4% 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 $1.73 billion during the month. Eastern Markets BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts,…
[ad_1] September 5, 2023 at 2:33 pm Illinois adult-use cannabis sales in August were down a bit sequentially to $139.2 million, a decline of 0.6% from July. The gain was 7.6% from a year ago: After increasing 106% in 2021 and then 13% in 2022, year-to-date adult-use sales are up 4.7% in the first 8 months to $1.06 billion. During August, sales to non-residents were down from July’s level of 25.6% to 24.6%: Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in…