Cannabis sectors saw mixed results in June – new cannabis ventures

As we described in a previous article, the Global Cannabis Stock Index fell 8.9% in June. Currently, in 2024, it will increase by 6.2%.

In this article, we summarize the performance of other managed indices that New Cannabis Ventures offers to its readers. We discuss the performance of the US Cannabis Operators Index, the Subsidiary Cannabis Index, and the Canadian Cannabis LP Index. The index, which was the strongest since the Department of Health and Human Services asked the DEA in late August to change the cannabis dosing schedule, has been highly volatile since then. This month, two indices dropped, one slightly.

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US Cannabis Stock Index

The US Cannabis Operators Index was fairly strong in January after a December drop, but fell sharply in February before rising in March and April. It fell sharply in May and was weak again in June, falling 11.2% to 15.30:

In 2023, the index rose 7.6% to 15.34 despite overall weakness in cannabis stocks, and the close in late January was its highest in more than a year, but the April close was higher. In 2024, the index fell 0.3%:

The index, which launched in October 2018, hit an all-time low in August before recovering sharply. It’s still significantly lower than when it launched:

The worst-performing MSO stock in June was Cannabist (OTC:CBSTF) (NEO:CBST), down 18.8%. Green Thumb Industries (OTC:GTBIF) (CSE:GTII) was the strongest and only gainer, up 5.2%.

In July, the index will have 13 members, with Cannabist leaving due to its low price and Schwazze (OTC: SHWZ) (CSE: SHWZ) joining.

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Additional cannabis index

The Ancillary Cannabis Index was very strong in March but fell slightly in April. It fell the least of all subsectors in May, falling 2.1% to 14.34:

After losing a massive 76.6% in 2022, it fell 10.9% in 2023 to 13.38, which was better than the Global Cannabis Stock Index. In 2024 it increased by 7.2%:

The index has fallen more than 85% since its launch in late March 2021:

The best-performing stock on the index in May was NewLake Capital (OTC: NLCP), which gained 6.0%. The worst performer was GrowGeneration (NASDAQ:GRWG), which lost 15.0%.

The index will have nine members in July as Leafly (NASDAQ: LFLY) and WM Technology (NASDAQ: MAPS) rejoin it.

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Canadian Cannabis LP Index

The Canadian LP Cannabis Index exploded in April from an all-time low reached in late March, then fell sharply in May. It fell again in June, falling 12.8% to 57.47:

The index, which fell 62.8% in 2022, fell 16.2% in 2023 to 60.85 and will fall 5.6% in 2024:

The LP Index has fallen significantly since its peak over 5 years ago in early 2018:

Canadian LPs are mostly trading below $1 Canadian, with only five stocks trading higher at the end of June. One of the 9 companies in the index fell below $0.25 Canadian. Aurora Cannabis (TSX:ACB) (NASDAQ:ACB) fell 24.9% in June. Canopy Growth (TSX:WEED) (NASDAQ:CGC) fell 23.7%. Cronos Group (TSX:CRON) (NASDAQ:CRON) fell 9.9%. Organigram (TSX:OGI) (NASDAQ:OGI) fell 9.8%. Tilray Brands (TSX:TLRY) (NASDAQ:TLRY), the worst performer of the five companies in the second quarter, lost 7.3%.

The same nine members will be included in the index in July.

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New Cannabis Ventures maintains four proprietary indices designed to help investors monitor publicly traded cannabis stocks, including the Global Cannabis Stock Index as well as the Canadian Cannabis LP Index. The third index, the American Cannabis Operator Index, launched in late October 2018 and tracks the leading cannabis growers, processors and retailers in the United States. We then launched the Ancillary Cannabis Index in late March 2021, reflecting the growing number of publicly traded companies providing goods or services to cannabis operators.

Based in Houston, Alan leverages his experience as the founder of the online community 420 Investor, the first and still largest due diligence platform focused on publicly traded cannabis stocks. Through his extensive network of cannabis communities, Alan continues to find new ways to connect the industry and facilitate sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Alan, who began his career on Wall Street in 1986, worked as an independent research analyst after more than two decades in research and portfolio management. Alan is a prolific writer who has published more than 650 articles on Seeking Alpha since 2007, where he has 70,000 followers. He is a frequent speaker at industry conferences and a frequent source for media outlets including the NY Times, Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | Linkedin | E-mail

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