American hashish shares to increase 2020 earnings by 23% in January – New Hashish Ventures

The American Cannabis Operator Index rose for the fourth consecutive year in January, increasing 23.3% to 77.74:

It gained 45.7% in 2020 when it ended on 05/63 and rebounded 436.1% from an all-time low at 2:50 p.m. on March 18:

The index, which was launched at a value of 100 in late October 2018, hit a closing high of 124.16 a week later before falling to 70.64 in late December 2018. At the beginning of April 2019 it then rose to 119.53 before it was sold.

As of January, the index included 25 companies, including 22 multi-state operators (MSOs) and 3 that focused solely on industrial hemp-derived CBD. Four companies achieved returns greater than 40% while four fell during the month:

The four best-performing stocks in January included Acreage Holdings (CSE: ACRG.A) (OTC: ACRHF), Schwazze (OTC: SHWZ), Vireo Health (CSE: VREO) (OTC: VREOF), and MariMed (OTC: MRMD). With the exception of Vireo Health, these were all poor performers in December and 2020 so there may have been a bit of bottom fishing. Acreage Holdings bounced back on its potential merger partner, Canopy Growth, and saw higher chances the deal could take place earlier, given the Senate change of control. Schwazze, which fell 44% in 2020 when several pending acquisitions failed to close, jumped late in the month. Vireo Health, a big 2020 winner, won after New York, where it is one of ten licensees, introduced laws that would legalize adult sales. MariMed, which lost 24% in 2020, extended its gains from a rally in late November.

The four worst-performing stocks included C21 Investments (CSE: CXXI) (OTC: CXXIF), Cansortium (CSE: TIUM.U) (OTC: CNTMF), Planet 13 Holdings (CSE: PLTH) (CSE: PLNHF), and Indus Holdings (CSE: INDS) (OTC: INDXF). C21 Investments pulled back after rallying 42% in December. The company, which jumped in late November after restructuring its debt following commitments from Wasatch Global, JW Asset Management and CB1 Capital, sold its Oregon operations during the month. Cansortium sagged after Cresco Labs announced the upcoming acquisition of Bluma Wellness. It had jumped late in the year following Ayr Strategies’ announcement of the upcoming acquisition of Liberty Health, and investors appear to have lowered their expectations for a larger MSO to acquire the company. Planet 13 Holdings, a big 2020 winner, digested profits as it raised funds for the fourth time since last summer of the month. Indus Holdings, which has been consolidating since a capital increase in December, announced in January that it intends to build a purpose-built cultivation and processing facility in California rather than undertaking a retrofit project.

For February, the number of names will increase to 34, with 9 additions including Body and Mind (CSE: BAMM) (OTC: BMMJ), Hollister Biosciences (CSE: HOLL) (OTC: HSTRF), iAnthus Capital (CSE: IAN) ( OTC: ITHUF), Next Green Wave (CSE: NGW) (OTC: NXGWF), SLANG Worldwide (CSE: SLNG) (OTC: SLGWF), Master Holdings (CSE: STEM) (OTC: STMH), Terra Tech (OTC): TRTC), the parent company (NEO: GRAM.U) (OTC: GRAMF) and VEXT Science (CSE: VEXT) (OTC: VEXTF).

In the next monthly review, we will summarize the performance for February and discuss any additions or deletions. Make sure to bookmark the page to stay up to date on American cannabis operators’ price action within the day or day-to-day.

Sign up for 420 Investor, the largest and most comprehensive premium subscription service for cannabis dealers and investors since 2013.

Alan Brochstein, CFA

Alan is based in Houston and leverages his experience as the founder of the 420 Investor online community, the first and largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to seek new ways to connect the industry and fuel its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before focusing on the cannabis industry in early 2013, Alan worked as an independent research analyst in 1986 after having worked in research and portfolio management for over two decades. Alan is a prolific writer with over 650 articles published since 2007 on Seeking Alpha where he has 70,000 followers. He is a frequent speaker at industry conferences and a frequent source for media such as the NY Times, Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | E-mail

Get our Sunday newsletter

In this article:

Acreage, acrg, acrhf, BAMM, bmmj, body and mind, c21 investments, cansortium, CNTMF, CXXI, CXXIF, grams, GRAMF, INDS, Indus Holdings, indxf, marimed, mrmd, Planet 13, Planet 13 Holdings, PLNHF, PLTH , schwazze, SHWZ, parent company, TIUM, TPCO Holding Corp., Vireo Health, vreo, vreof

Similar news:

What’s new in cannabis stocks for the week ending 01/29/21?

Colorado-based cannabis collective Schwazze announces changes to its board of directors

Body and mind provide corporate update

Vireo Health is registered as a US reporting company

Comments are closed.