The overall US stock market index has been on a roll this year, which is impressive considering the turbulent start to the year. There are two stocks that stand out as notable movers, however, with one of them falling over 40% and the other plummeting over 27%.
On the October 23rd, 2018, the American Cannabis company stocks fell for the fourth consecutive month, due to the uncertainty on the future of marijuana laws. The stock prices dropped 5.6% in the month of October, with the last month of the year, the stock prices increased by 3.9%. The total stock prices of the 30 companies that were listed in the American Cannabis stock index, decreased by 3.4% from September to October, from $261.95 to $257.51.
Despite the recent gains for cannabis stocks in November, we continue to see the cannabis sector continue to fall. As of November 29, we still see the sector down about 3% from the beginning of October. It may seem odd that the sector is down when it’s still early, but it’s important to understand that we are still in the early stages of the cannabis industry and we will see this sector continue to fall until the end of 2018.. Read more about global cannabinoids stock price and let us know what you think.The U.S. Cannabis Operators Index fell for the fourth month in a row after five monthly increases, dropping 9.9% to 70.17 :
After rising 45.7% in 2020, when the index ended at 63.05, the index rose 11.3% in 2021 and was up 157.5% last year :
Theindex, which started with a value of 100 at the end of October 2018, reached a closing high of 124.16 a week later and then fell to 70.64 at the end of December 2018. The price then rose to 119.53 in early April 2019, followed by a sell-off throughout the year and into March 2020. It is up 383.9% since the low point, which occurred on the 18th. March 2020 was 14.50 :
In June, the index included 30 companies, including 26 multistate operators (MSOs) and 4 companies specializing exclusively in CBD from industrial hemp. 2 companies posted double-digit gains, while 13 companies declined by more than 10% during the month:
The four best performing stocks in June were Next Green Wave (CSE: NGW) (OTC: NXGWF), Green Thumb Industries (CSE: GTII) (OTC: GTBIF), Planet 13 Holdings (CSE: PLTH) (OTC: PLNHF) and Harvest Health and Recreation (CSE: HARV) (OTC: HRVSF). Last year, Next Green Wave grew by 127.6%, GTI by 34.7%, Planet 13 by 25.7% and Harvest by 91.2%.
The four worst performing stocks this month are HempFusion (CSE: CBD.U) (OTC: CBDHF), which was the worst performer in April and May, Goodness Growth (CSE: GDNS) (OTC: GDNSF), Charlotte’s Web (TSX: CWEB) (OTC: CWBHF) and Columbia Care (CSE: CCHW) (NEO: CCHW) (OTC: CCHWF). HempFusion has lost 61.5% since its IPO earlier this year. Over the past year, Goodness Growth’s shares have risen 23.7%. Charlotte’s Web is up 8.2%. Columbia Care lost 23.2%.
The index will include 30 stocks in July, with the addition of four stocks, including Ascend Wellness (CSE: AAWH) (OTC: AWWH), Grove Inc. (NASDAQ: GRVI), Harborside (CSE: HBOR) (OTC: HBORF) and Terra Tech (OTC: TRTC), and four exemptions, including C21 Investments (CSE: CXXI) (OTC: CXXIF), Chalice Farms (CSE: CHAL) (OTC: CHALF), HempFusion (CSE: CBD) (OTC: CBDHF) and MedMen (CSE: MMEN) (OTC: MMNFF).
In next month’s review, we will summarize the June results and discuss any additions or deletions. Bookmark this page to stay up to date on price changes in US cannabis operator stocks throughout the day or every day.
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Based in Houston, Alan draws on his experience as founder of the 420 Investor online community, the first and still largest due diligence platform focused on publicly traded stocks in the cannabis sector. Through his many connections in the cannabis community, Alan continues to find new ways to bring the industry together and promote sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Until early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent analyst and then for more than two decades in research and portfolio management. Alan is a prolific writer with over 650 articles published on Seeking Alpha since 2007, where he has 70,000 subscribers. He is a frequent speaker at industry conferences and appears regularly in the media, including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Get in touch with Alan: Twitter | Facebook | LinkedIn | E-mail
In this section:
aawh, ascend wellness, awwh, CBD, cbdhf, CCHW, CCHWF, Charlotte’s Web, Columbia Care, cwbhf, CWEB, GDNS, GDNSF, Goodness Growth, Green Thumb Industries, grove, grvi, gtbif, Gti, gtii, Harborside, HARV, Harvest, Harvest Health and Recreation, hbor, HBORF, hempfusion, HRVSF, next green wave, ngw, nxgwf, Planet 13, PLNHF, PLTH, Terra Tech, TRTC
Harborside Inc. announces completion of modernization ofSalinas Growing Facility
Charlotte’s Web, Inc. becomes the exclusive supplier of CBD cannabis to Life Time
Columbia Care raises $74.5 million through a private placement ofconvertible bonds
What’s new in cannabis stocks for the week ending 25/6/21
There are two ways to look at the recent decline in the value of the American Cannabis Company stocks. The first is to view it as a repeat of a similar pattern in the past. The second is to look at it as a really good opportunity, based on the current trend of falling prices.. Read more about chow 420 stock and let us know what you think.
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