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Home » Cannabis Stocks Rise in September – New Cannabis Ventures
Cannabis Technology

Cannabis Stocks Rise in September – New Cannabis Ventures

adminBy adminSeptember 30, 2024No Comments4 Mins Read
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Cannabis stocks, as measured by the Global Cannabis Stock Index, soared in late August on news that the Department of Health and Human Services recommended that the DEA move cannabis from Schedule 1 to Schedule 3, marking the one-year anniversary. More than a day. August is a weak month. The index spiked on the last day of April, when the Drug Enforcement Administration announced it would formally recommend the requested schedule changes, but then plunged in May and fell in June. GCSI rose in July and early August, but cannabis stocks plummeted after the DEA announced late on August 26 that it would hold a hearing on December 2. In September, the index rose 4.3% to 8.80.

The 2023 index fell 16.5% to 8.11. It increased by 26.0% in the first quarter, decreased by 15.8% in the second quarter, and increased by 2.2% in the third quarter. So far, the index is up 8.5% in 2024.

Since its peak in February 2021, the Global Cannabis Stock Index has fallen 90.5% from its closing high of 92.48.

All three of the most powerful stocks rose more than 10% in September.

Khyber Brands had a weak August, dropping 26.6% in the third quarter. iPower, which was removed from the index today, fell 13.0% during the quarter. Trulieve has risen strongly in 2024, gaining 31.9% in the third quarter.

The three weakest stocks all fell more than 28% in September.

After a slow month, Lexaria ended the third quarter up 9.7%. WM Technology is up year-to-date, but fell 16.3% in the quarter. Emerald Holding fell 12.3% in the third quarter.

The index was rebalanced at the end of the quarter based on prices and volumes from the previous week. The number of members is expected to increase from 2 to 30 people. Returning to the index are AYR Wellness (OTC: AYRWF), Greenlane (NASDAQ: GNLN), iSpire Technology (NASDAQ: ISPR), and TerrAscend (OTC: TSNDF) (TSX: TSND). Akanda (NASDAQ: AKAN) and iPower exit due to price and/or volume issues.

We will summarize the index's performance again in a month's time and provide an update on the quarterly rebalancing. Visit the Global Cannabis Stock Index to learn more about the index members and their eligible eligibility. Be sure to bookmark this page to stay up-to-date on intraday or daily cannabis stock price movements.

New Cannabis Ventures manages four proprietary indexes designed to help investors monitor publicly traded cannabis stocks, including the World Cannabis Stock Index and the Canadian Cannabis LP Index. The American Cannabis Operator Index was released at the end of October 2018 and tracks the leading cannabis growers, processors, and retailers in the United States. Most recently, we introduced a supplementary cannabis index at the end of March 2021 to reflect the growing number of publicly traded companies providing products and services to cannabis operators.

Based in Houston, Alan leverages his experience as the founder of 420 Investor, an online community that was the first and remains the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to explore new ways to connect the industry and foster its sustainable growth. New Cannabis Ventures is responsible for content development and strategic partnerships. Alan began his career on Wall Street in 1986 and worked as an independent research analyst after more than 20 years in research and portfolio management before shifting his focus to the cannabis industry in early 2013. A prolific writer who has published more than 650 articles on Seeking Alpha since 2007 and has 70,000 followers, Alan frequently speaks at industry conferences and has appeared in the New York Times, Wall Street Journal, Fox Business, and Bloomberg. tv set. Contact Alan: Twitter |Facebook |LinkedIn |Email

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In this article:

EEX, Emerald Holding, ipower, ipw, kaival brand, kavl, Lexaria, lexx, map, tcnnf, TRUL, trulieve, WEED, wm technology

Related news:

Canadian cannabis sales recover in July

Canadian LP bargains

Florida medical patient growth slows again

Ancillary cannabis stocks once again perform best





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