American Cannabis Operator Index Declines six.1% in October – New Cannabis Ventures

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November 1, 2019 at eight:34 am

Published by Alan Brochstein, CFA

Just after 3 straight month-to-month double-digit percentage declines, the American Cannabis Operator Index fell once more for the seventh consecutive month but managed to outperform the broader cannabis sector, declining six.1% to 47.49:

The index, which launched at the finish of October with a worth of 100, traded as low as 70.64 in late December soon after obtaining reached a closing higher of 124.16 in early November. This previous month, it ended at the lows and it is now down 38.six% in 2019:

Through October, the index integrated 28 firms, which includes 23 multi-state operators (MSOs) and five focused solely on CBD extracted from industrial hemp. Numerous MSOs are pursuing CBD approaches apart from their state-licensed cannabis firms. six firms managed double-digit gains, although 14 posted double-digit losses, which includes four that lost additional than 25% of their worth:

The 3 greatest performing stocks had been Liberty Overall health Sciences (CSE: LHS) (OTC: LHSIF), Trulieve (CSE: TRUL) (OTC: TCNNF) and Green Development Brands (CSE: GGB) (OTC: GGBXF). Liberty  bounced back sharply soon after reporting fiscal Q2 financials that showed 93% sequential income development and enhanced profitability. Trulieve, which is up in 2019, was in a position to safe $60 million by way of the issuance of debt with warrants on terms related to 4 months ago. Like Liberty, Green Development Brands bounced back soon after issuing financials for the  year ending June 30th.

The 3 worst performing stocks had been Veritas Farms (OTC:  VFRM), Plus Solutions (CSE: PLUS) OTC: PLPRF) and MedMen (CSE: MMEN) (OTC: MMNFF). Veritas Farms, which carried out a reverse-split in late September, pulled back soon after a powerful advance in its stock more than the previous quite a few months. MedMen rallied into the release of its financials for the year ending June 30th but sold off sharply following news that it was in the course of action of renegotiating its convertible note credit agreement with Gotham Green Partners.

For November, the quantity of names in the index will lower by five to 23.  CBD producers Abacus Overall health Products (CSE: ABCS) (OTC: ABAHF) and Veritas Farms and MSOs  Dixie Brands (CSE: DIXI) (OTC: DXBRF), 4Front (CSE: FFNT) (OTC: FFNTF) and Sunniva (CSE: SNN) (OTC: SNNVF) had been removed due to not meeting the trading volume requirement.

In the subsequent month-to-month evaluation, we will summarize the overall performance for November and go over any additions or deletions. Be certain to bookmark the web page to remain present on American cannabis operators stock price tag movements inside the day or from day-to-day.

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Published by Alan Brochstein, CFA

Alan Brochstein, CFA
Primarily based in Houston, Alan leverages his knowledge as founder of on-line communities 420 Investor, the initially and nonetheless biggest due diligence platform focused on the publicly-traded stocks in the cannabis sector. With his in depth network in the cannabis neighborhood, Alan continues to uncover new strategies to connect the sector and facilitate its sustainable development. At New Cannabis Ventures, he is accountable for content material improvement and strategic alliances. Ahead of shifting his concentrate to the cannabis sector in early 2013, Alan, who started his profession on Wall Street in 1986, worked as an independent analysis analyst following more than two decades in analysis and portfolio management. A prolific writer, with more than 650 articles published considering that 2007 at Searching for Alpha, exactly where he has 70,000 followers, Alan is a frequent speaker at sector conferences and a frequent supply to the media, which includes the NY Instances, the Wall Street Journal, Fox Enterprise, and Bloomberg Television. Speak to Alan: Twitter | Facebook | LinkedIn | E mail

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