MSOs Trail Again

As we described in a previous article, the Global Cannabis Stock Index soared again in March, rallying 19.5%. It is now up 26.0% in 2024.

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 and in September but led the way lower in October and reversed in November, was the weakest in December and the strongest in January. After underperforming one of the others in February, it rallied in March but fell short of both of the others.

American Cannabis Stocks Index

The American Cannabis Operator Index was quite strong in January after declining in December, but it plunged in February. In March, it rallied 6.1% to 20.70 :

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. In 2024, this index is now up 34.9%:

The index, which launched in October 2018, made an all-time low in August before soaring. It is still down a lot from when it launched:

The best performing MSO in March was AYR Wellness (OTC: AYRWF) (CSE: AYR.A), which gained 31.0% after it plunged 42.6% in February. Schwazze (OTC: SHWZ) (NEO: SHWZ) was the weakest stock, falling 28.7%.

In April, the index will have 13 members, with  recent addition Schwazze leaving. Flora Gold (OTC: GRAM) (NEO: GRAM) is exiting as well, and MariMed (OTC: MRMD) (CSE: MRMD) is rejoining.

Ancillary Cannabis Index

The Ancillary Cannabis Index was strong again, gaining 17.2% to 15.23:

In Q4, the index lifted 0.9%. 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 13.8% in 2024:

The index is down almost 85% since launching at the end of March in 2021:

The best performing stock in the index in March was WM Technology (NASDAQ: MAPS), gaining 47.7%. The worst stock was Chicago Atlantic (NASDAQ: REFI), declining 3.2%.

In April, the index will have seven members again. NewLake Capital Partners (OTC: NLCP) is replacing WM Technology, the opposite of what took place in March.

Canadian Cannabis LP Index

The Canadian Cannabis LP Index rallied sharply, lifting from an all-time low of 54.35. It gained 32.3% to 71.93:

The index, which fell 62.8% in 2022, was down 16.2% in 2023 to 60.85, and it is up 18.2% in 2024:

The LP index is down a lot from its peak, which hit more than 5 years ago in early 2018. :

The Canadian LPs trade mainly below C$1, with just five of the stocks having a higher price at the end of March. 5 of the 12 stocks in the index closed below C$0.25. During March, Canopy Growth (TSX: WEED) (NASDAQ: CGC) led the way, rallying 162.6%. ilray Brands (TSX: TLRY) (NASDAQ: TLRY) experienced a 41.7% gain, while Aurora Cannabis (TSX: ACB) (NASDAQ: ACB) increased 38.9%.  Cronos Group (TSX: CRON) (NASDAQ: CRON) gained 25.0%, but Organigram (TSX: OGI) (NASDAQ: OGI) increased only 4.0% after pricing an equity sale.

In April, the index will have 10 members, as 2 names that traded below $0.10 on 3/26 have been removed.

New Cannabis Ventures maintains four proprietary indices designed to help investors monitor the 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, was launched at the end of October 2018 and tracks the leading cultivators, processors and retailers of cannabis in the United States. Afterwards, we introduced the Ancillary Cannabis Index at the end of March 2021, reflecting the increasing number of publicly-traded companies providing goods or services to cannabis operators.

The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.