Cannabis Stocks Fall Again

Cannabis stocks, as measured by the Global Cannabis Stock Index, were quite volatile in 2024. The index dropped 7.5% in December to push the yearly close down 15.2% for the year and also was off to a bad start in 2025. It posted a new all-time of 4.97 during the last day of March and moved lower in early April. The index expanded 11.5% in April pulled back by 7.0% during May. In June, it ended at 5.02, falling 3.8%.

After the Q4 collapse of 21.8% to 6.88, the index dropped 7.3% in January, 6.9% in February and then again in March by 15.3%. The Global Cannabis Stock Index, which currently has 23 members, was down 26.9% in Q1. It was down 0.2% during Q2, and it is down 27.0% in 2025.

Since the peak in February 2021, the Global Cannabis Stock Index has dropped 94.4% from the 92.48 closing high.

The strongest 3 names in June all rose by more than than 5%:

Each of these stocks is down year-to-date. During Q2, SMG rallied 20.2%, EEX gained 23.4%, and GTI fell 5.2%

The 3 weakest names in June all fell by more than 14%:

Each of these stocks is down year-to-date. During Q2, Verano fell 23.4%, Aurora Cannabis dropped 3.4%, and Cresco Labs plunged 29.1%.

The index has been rebalanced as of the close on 6/30, and this was based upon data from 3/23. For Q3, the index will continue to have 23 names, with four removals and four additions. Leaving the index are three MSOs and a cannabis REIT, CRLBF, CURLF, NLCP and VRNOF. Joining the index are Agrify (AGFY), IM Cannabis (IMCC), iPower (IPW) and Village Farms (VFF). The index will have sub-sector exposure that has the lowest MSO weighting perhaps ever at 13.0%. The largest sub-sector is ancillary at 39.1%, and Canadian LPs are at 30.4%. Biotech, Canadian Retail, International, and THC Beverages are each at 4.3%.

We will summarize the index performance again in a month. In April, we combined what had been two articles historically, and we are updating here on the other indices that New Cannabis Ventures continues to maintain, the American Cannabis Operator Index, the Ancillary Cannabis Index and the Canadian Cannabis LP Index.

In June, the ACOI lost 7.6%, falling from 6.29 to 5.81. It is down 30.5% year-to-date, declining from 8.36.

The strongest stock in June was Green Thumb Industries (OTC: GTBIF) (CSE: GTII), which rose 5.2%. The weakest one, TerrAscend (OTC: TSNDF) (TSX: TSND),  fell 22.5%.

In July, the index would will have the same seven members again.

In June, ancillaries fell by 4.1% as the index rose dropped 11.58 to 11.11. The index has declined 19.3% from 13.77 in 2025 so far.

The strongest stock in June was Scotts Miracle-Gro, which rose 10.8%. The weakest one, WM Technology (NASDAQ: MAPS), fell 13.9%.

In July, the index will have the same seven members.

In June, Canadian LPs fell by 9.4% as the index fell from 45.43 to 41.24. The index has declined 17.7% in 2025 so far from 50.11.

The strongest Canadian LP in June was Cannara Biotech (TSXV: LOVE), which rose 14.0%. Simply Solventless (TSXV: HASH) was the weakest, falling 28.4%.

In July, the index would will have the same eleven members again.