As we described in a previous article, the Global Cannabis Stock Index moved lower in August, falling 7.5 %. It is now up 4.1 % in 2024.
We summarize the effectiveness of the other managed metrics that New Cannabis Ventures provides to its visitors in this article. The results of the American Cannabis LP Index, Ancillary Cannabis Index, and American Cannabis Operator Index are discussed. Since then, the score has been extremely dangerous and was quite poor in August, surpassing the peak that the DEA had been requested by the Department of Health & Human Services in late August to postpone cannabis. This quarter, ancillary was somewhat strong again.
American Securities Index:
The American Cannabis Operator Index, which fell in December, continued to grow strongly until March and April. However, it fell in February. In May and June, it was poor, and in July, it lagged another sub-sectors. It was in the works in August, but it ultimately failed because the DEA delayed rescheduling by announcing a December reading. The index fell 9.2 % to 13.94:
In 2023, the index rallied 7.6 % to 15.34 despite the overall weakness in cannabis stocks, and a late January close was the highest close in over a year, but the adjacent in April was higher. In 2024, this index is now down 9.1 %:
The catalog, which launched in October 2018, made an all-time poor a year ago in August before soaring. It has lost a bit since it first launched:
The worst performing MSO in August was Curaleaf ( OTC: CURLF ) ( TSX: CURA ), which lost 28.0 % after reporting a worse-than-expected Q2 and replacing its CEO. Planet 13 ( OTC: PLNH) ( CSE: PLTH) was the strongest stock, rising 20.1 % %.
In September, the score will have the same 12 people.
Ancillary Cannabis Index
The cannabis score fluctuated in March, but it decreased significantly in April. In July, it outpaced the other sub-sectors, rising 9.6 %, and it fell 1.3 % in August to 15.50:
After a massive loss of 76.6 % in 2022, it declined 10.9 % in 2023 to 13.38, which was better than the Global Cannabis Stock Index. It is up 15.8 % in 2024:
Since it first appeared at the end of March in 2021, the score has fallen by over 84 %.
The best performing stock in the index in August was AFC Gamma ( NASDAQ: AFCG), gaining 16.6 %. The worst stock was GrowGeneration ( NASDAQ: GRWG), declining 15.6 %.
In September, the score will have the same eight people.
American Cannabis LP Index
The American Cannabis LP Index exploded higher in April from an all-time low set at the end of March and then plunged in May and fell further in June. In July, it posted a gain, but it fell in August and posted a new all-time low, dropping for the month by 8.0% to 55.12:
The index, which fell 62.8 % in 2022, was down 16.2 % in 2023 to 60.85, and it is down 9.4 % in 2024:
The LP score, which was at its peak in early 2018, is significantly lower than it was more than five years ago:
Only five of the companies had a higher price at the end of July, and the French LPs business primarily below C$ 1. The catalog closed with a C$ 0.25 loss for 2 of the 9 companies. During August, Aurora Cannabis ( TSX: ACB) ( NASDAQ: ACB) dropped 3.4 %. Canopy Growth ( TSX: WEED ) ( NASDAQ: CGC ) plunged 33.2 %. Cronos Group ( TSX: CRON ) ( NASDAQ: CRON ) fell 10.9 %. Organigram ( TSX: OGI ) ( NASDAQ: OGI ) lifted 6.4 %. Tilray Brands ( TSX: TLRY ) ( NASDAQ: TLRY ) experienced a 17.2 % loss.
In September, the score will have the same nine people.
