You’re reading a copy of this week’s edition of New Cannabis Ventures’ weekly newsletter, which we’ve been publishing since October 2015. The newsletter includes unique information to help our readers stay ahead of the game as well as links to the most important events of the week. new.
At $18.69, the Global Cannabis Stock Index, which represents the entire publicly traded market for the medical and legal marijuana industry since 2013, has fallen 43% in 2022 and is down 79% since peaking. from $92.48 in 2021. cannabis companies that touch plants in the United States, the American Cannabis Operators Index is down just under 35% in 2022.
We are seeing a wide range of expansions, and we are very excited about the impending increase in the number of dispensaries in Illinois. The expanding markets in the East, which we’ll talk about in an upcoming exclusive, are also exciting. With cannabis stocks under pressure and the fundamentals of many companies likely to improve, we are becoming more bullish.
After just over 15 months of Ross Gerber’s pestle table interview with Yahoo Finance seven trading days before the peak of the 2021 cannabis stock rally, it appears that Gerber announced his capitulation on May 28 when he tweeted that he had given up on the legalization of cannabis. Contrarian investors abound should take note!
Backbone founder and CEO, Rajesh Chandran, has a background in machine learning. Combining its love of data with the budding cannabis industry, the company now serves to unify supply chain data and enable cannabis businesses to operate efficiently. In an exclusive interview with NCV, Chandran discusses how Backbone serves its customers and how the company will continue to grow.
Each month, we summarize the top publicly traded cannabis companies that are generating revenue and revenue. As of last month, 38 companies qualified for our senior list and 16 qualified for the junior list. Most investors are familiar with top companies such as Trulieve, Curaleaf, Green Thumb Industries and Cresco Labs, but we also dive deeper to explore emerging companies.
We have published the performance of the seven NCV indices for the month of May, which include the long-running Global Cannabis Stock Index as well as the American Cannabis Operator Index, the Ancillary Cannabis Index and the Canadian Cannabis LP Index as well as Level 1 , 2 and 3.
Uniquely positioned, Greenlane is a Nasdaq-listed company that sells hundreds of non-contact herbal ancillary products to many of the major US multi-state cannabis operators. Greenlane is one of the few ways to gain exposure to the US cannabis industry, without having to worry about interstate commerce rules, archaic exchange limitations, or punitive taxation.
Get up to speed by visiting the Greenlane Investor Dashboard that we maintain on their behalf as a client of New Cannabis Ventures. Click the blue Follow Business button to keep up to date with its progress.
Fire & Flower has announced new management. Effective June 1, Stéphane Trudel took over as CEO. Trudel was senior vice-president of operations for Alimentation Couche-Tard, a convenience store operator that owns a 35% stake in the company.
Harborside has provided finalized details of the integration steps it needs to take to become Statehouse Holdings. The company said the integration is underway and it expects the first phase of the process to be completed by the end of this month.
Aurora Cannabis strengthens its balance sheet with the closing of its expanded bought deal offering, generating gross proceeds of approximately $172.5 million. Two days later, on June 3, the company announced that it had redeemed approximately $20 million of its convertible senior notes. Aurora’s balance sheet now stands at approximately $455 million in cash.
California-based cannabis brand Shryne Group recently received a senior secured term loan of up to $170 million from Silver Spike. The specialized finance company was created to invest in the cannabis space in the form of direct loans.
Cansortium’s first-quarter revenue increased 19% sequentially to $19.7 million and increased 30% year-on-year. The company, which operates under the Fluent™ brand, said recent culture improvements and increased capacity provided the product needed to optimize store productivity. On April 20, Cansortium opened its third store in Pennsylvania and plans to open four to six new stores in Florida in 2022.
Entourage Health’s first-quarter revenue increased 17% sequentially to C$12.4 million and 21% year-on-year. CEO and Executive Chairman George Scorsis said the results reflect the company’s best operating performance to date “largely due to the execution of some of the largest purchase orders in our company’s history. “. Last month, Fire & Flower Holdings Corp. announced that it has entered into an agreement with Entourage to provide same-day delivery services to Entourage patients in parts of Ontario through its Starseed platform.
For real-time updates, download our free mobile app for Android or Apple devices, like our Facebook page, or follow Alan on Twitter. Share and learn about industry news with like-minded people on the largest group of cannabis investors and entrepreneurs on LinkedIn.
Use the professionally managed suite of NCV cannabis stock indices to monitor the performance of publicly traded cannabis companies within the day or over longer periods. In addition to the comprehensive Global Cannabis Stock Index, we offer a family of indices to track Canadian licensed producers as well as the American Cannabis Operator Index and Ancillary Cannabis Index.
Check out the Public Cannabis Company Revenue & Income Tracker, which ranks the top revenue-generating cannabis stocks.
Stay up to date on some of the most important communications from public companies by watching upcoming cannabis investor earnings conference calls.
Check out new listings coming soon with Cannabis Stock IPOs and new issues tracker.
Alain and Joel