Cannabis Investors Should Be Thankful

You’re reading this week’s edition of the New Cannabis Ventures weekly newsletter, which we have been publishing since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve as well as links to the week’s most important news. We no longer send these by email as we did in the past, but we post this and all of the newsletters on our website here.

Friends,

What a year it has been! Early in the year many thought cannabis rescheduling would happen soon. Here we are at the end of the year, and, well, that still is the case, though prices are much lower. The AdvisorShares Pure US Cannabis ETF (NYSE Arca: MSOS) has lost 1/3 of its value so far in 2024.

I was very cautious earlier this year, especially when the market shot up in late April, and I have become a lot more bullish. Looking at the action since last Thanksgiving, which occurred 53 weeks ago, the NCV Global Cannabis Stock Index has dropped about 4%. The S&P 500 has soared and even smaller stocks are up a lot since then. Cannabis stocks stink!

Cannabis stocks may not be faring well, but several have gone through bankruptcy and are gone. Few have left via mergers recently, and this week’s news that Acreage Holdings Fixed Shares will be acquired next month for $0.00 says a lot.

The stock price news has been horrible for investors, but the fundamental news has been woeful. Florida did not pass the adult-use ballot initiative. New York has been booming, but other states are seeing sales slow dramatically. It’s a big world, but things aren’t so great in Canada or in Germany.

There is still some time left in 2024, so perhaps a year-end look will contain some positives, but there is not much to excite cannabis investors these days. The DEA will lay out a time-table perhaps regarding the hearings for Rescheduling at Monday’s meeting, and this remains the big story (280E elimination).  The only positive I can come up with is that the negativity is too high. Of course, this doesn’t mean a bull market will start, but we should all be thankful for this terrible investor sentiment.

It has been almost four really awful years, but perhaps this bear market will end soon. By the way, the all-time low set on the Global Cannabis Stock Index in October 2023, is still  holding. Happy Thanksgiving to all readers, and let’s celebrate hopefully better times next year .

New Cannabis Ventures publishes curated articles as well as exclusive news. Here is what we published this past week:

Exclusives

Canadian Cannabis Sales Slide in September

Mergers and Acquisitions

Acreage Fixed Shares to Be Acquired by Canopy Growth for $0.00 Potentially

To get real-time updates download our free mobile app for Android or Apple devices, like our Facebook page, or follow Alan on Twitter. Share and discover industry news with like-minded people on the largest cannabis investor and entrepreneur group on LinkedIn.

Use the suite of professionally managed NCV Cannabis Stock Indices to monitor the performance of publicly-traded cannabis companies within the day or over longer time-frames. In addition to the comprehensive Global Cannabis Stock Index, we offer the Canadian Cannabis LP Index, the American Cannabis Operator Index and the Ancillary Cannabis Index.

View the Public Cannabis Company Revenue & Income Tracker, which ranks the top revenue producing cannabis stocks.

Stay on top of some of the most important communications from public companies by viewing upcoming cannabis investor earnings conference calls.

Discover upcoming new listings with the curated Cannabis Stock IPOs and New Issues Tracker.

Sincerely,

Alan