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, What a great week in a terrible year for cannabis stocks! The NCV Global Cannabis Stock Index rallied an incredible 21.7%, and it is now up 19.1% in Q3. Year-to-date, though, it remains down 8.0%, and it is down more than 90% still from the peak in February 2021. So, what’s…
[ad_1] As we described in a previous article, the Global Cannabis Stock Index rallied for the second consecutive month on a huge late-month surge. That index is now down down 6.4% 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. All rose during the month, but the one that lagged the others in July led the way in August. American Cannabis Stocks Index The American…
[ad_1] Cannabis stocks were sinking during the month, creating a new all-time low intraday of 7.39 for the Global Cannabis Stock Index , but they 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 extended the gains on 8/31. The index rallied 5.1% to 8.91: 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,…
[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 have been critical of the cannabis ETFs for a while, and they are all down hard in 2023: Today, we want to take a close look at some cannabis ETFs and to explain again why investors should not invest in ETFs if they want to invest in cannabis. AdvisorShares Pure…
[ad_1] August 23, 2023 at 8:42 am Statistics Canada released June retail sales for the country, with cannabis sales rising from the May levels, up 2.6% to C$426.6 million, a new record for a month. May was revised slightly higher to C$415.7 million. The sales, which rose 6.0% on a per-day basis, were up 12.9% from a year ago, up from the 11.2% May growth rate. In 2022, total sales increased 17.9% to C$4.52 billion, and they have increased 12.3% during the first half of 2023. An increase in the number of stores as well as falling flower prices that bring consumers…
[ad_1] The Public Cannabis Company Revenue & Income Tracker, managed by New Cannabis Ventures, ranks the top revenue producing cannabis companies. Most of the companies have just reported for the quarter that ended 6/30. The next reporting period of note is in November for the quarter that ends on 9/30, and we will provide an update in late October ahead of this time. 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.…
[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 think that cannabis stocks have very attractive valuations for the most part, but we aren’t sure that this matters right now. The cannabis industry has been struggling with slowing overall growth and with tough capital markets. Again, we think that the ultimate reversal of what is now a 2 1/2…
[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 peak of earnings season for the cannabis industry has passed, and the news that came out hasn’t helped. Last week, the New Cannabis Ventures Global Cannabis Stock Index fell 4.4% and is down 8.6% in August and 20.2% year-to-date. The weakness doesn’t surprise us, and it didn’t really have much…
[ad_1] August 11, 2023 at 4:00 pm Michigan cannabis sales rose 6.1% in July from the shorter June to a record $276.7 million. On a per-day basis, sales grew 2.7%. The growth of 31.8% from a year ago was down from the 39.2% level last month: The Michigan Cannabis Regulatory Agency breaks out sales by medical and adult-use, with medical sales falling 70.9% from a year ago to $6.1 million, down 7.5% sequentially, and adult-use sales expanding 43.3% year-over-year to $270.6 million, up 6.5% sequentially: The state breaks out sales by category and provides pricing detail by category, for both medical 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, The NCV Global Cannabis Stock Index was unchanged last week despite the pressure on stocks generally. Still, it’s down 16.5% this year and more than 91% since peaking in February 2021. The cannabis sector remains under pressure for a lot of reasons, but one reason has been the move from strong growth…
[ad_1] August 3, 2023 at 3:38 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 0.3% sequentially in June after decreasing 0.5% in May, according to cannabis data analytics firm BDSA. Looking at a per-day basis, sales increased 3.6% 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 $1.71 billion during the month. Eastern Markets BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts,…
[ad_1] As we described in a previous article, the Global Cannabis Stock Index rallied sharply in July after five consecutive monthly declines following a rally to begin the year. That index is now down down 12.7% 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. All rose during the month, but one lagged the others. American Cannabis Stocks Index The American Cannabis Operator Index rose less…