It seems that the The streak of losses continues for the Canadian Cannabis LP Index for the sixth month, after decreasing by 13.5% in December to 194.95, writes New Cannabis Ventures.
After a 1% increase in June, the index fell nearly 27% in the third quarter.
The index, which fell by 30.1% in 2020 and ended at 275.16, it fell 26% in the fourth quarter and 29.2% throughout 2021.
Plus, that remains well below the all-time high of 1314.33 at September 2018. In March 2020, a new multi-year closing minimum of 196.10 was recorded.
The index includes 25 listed cannabis companies listed in Canada at the end of October. The companies are divided into three sub-indexes, which include Canadian Cannabis LP Tier 1 Index (5 companies), Canadian Cannabis LP Tier 2 Index (8 companies) and Canadian Cannabis LP Tier 3 Index (12 companies).
The index, which rebalances each month, requires companies to be priced at least $ 0.20 ($ 0.16) unless they generate at least $ 2.5 million each quarter from their operations. of cannabis production.
The global index will have 24 voters by January, as Village farms has withdrawn from the TSX listing.
Level 1
The five largest Canadian LPs, for revenue generating at least CA $ 30 million per quarter were Aurora Cannabis Inc. (TSX: ACB) (NASDAQ: ACB), Canopy growth Corp.(TSX: WEED) (NASDAQ: CGC), HEXO Corp. (TSX: HEXO) (NASDAQ: HEXO), Tilray Inc. (TSX: TLRY) (NASDAQ: TLRY) i Village Farms International Inc. (TSX: VFF) (NASDAQ: VFF).
Village Farms was the best performer within the group, falling 5.1% to 402.42 in December. Over the past five years, the company’s stock has surpassed some of the world’s most popular stocks, including Microsoft, Apple, Netflix and Facebook. In addition, Village Farm shares traded up 0.86% at $ 6.47 per share at the time of writing.
He The worst performance among the largest Canadian LPs was HEXO, down 38%, followed by Tilray’s 31% drop.
Following a series of recent acquisitions, which included Redecan and 48North Cannabis Corp., HEXO is looking to streamline its operations at its core facilities as part of its ongoing integration plan. New measures in the strategic plan, called “The Way Forward,” include: reducing manufacturing and production costs, streamlining and simplifying its organizational structure, achieving cost synergies, focusing on revenue management, and accelerating growth. through organic market share gains.
In its latest earnings report, HEXO revealed a larger loss of C $ 116.9 million in the first quarter and quarterly sales of C $ 50.2 million. In november Former Ottawa-based co-founder and CEO Sebastien St-Louis has resigned from HEXO’s board of directors.
Level 2
After losing 35.9% in 2020, the Canadian Cannabis LP Tier 2 index closed at 365.19, only to continue to fall 2.5% in 2021. In December, level 2 fell 15% to 302.79.
Between eight qualified companies with quarterly cannabis-related sales between $ 7.5 million and $ 30 million CA, Indiva Limited. (TSXV: NDVA) (OTC: NDVAF) had the 18% higher profit for the group, while The Valens Company Inc. (TSX: VLNS) (NASDAQ: VLNS) saw the largest decline of 27%.
Canadian cannabis producer Indiva revealed a 143% year-over-year increase in gross revenue that recently reached C $ 8.3 million in the third quarter, which was the company’s seventh consecutive quarter with a year-on-year growth in net income.
After debuting on the Nasdaq Capital Market with the symbol “VLNS” in early December and announcing that it had taken out a secured non-revolving term loan of $ 40 million with 2361380 Ontario Limited., Valens signed two agreements with the Mexican drug supplier PMI Mexico – a subsidiary of Fusion group – to supply CBD oil and prebiotic products and associated with Montreal Cannabis Medical Inc. to provide manufacturing and extraction services for MTL pre-rolls and vapors.
Level 3
Level 3, which included the 12 qualified LPs reporting quarterly cannabis-related sales from 2.5 to 7.5 million CA dollars increased 0.4% when they closed at 53.35. After finishing at 66.59 in 2020, it fell 19.9% in 2021.
He the worst performance of this group was Lifeist Wellness Inc. (CSE: LFST) (OTC: NXTTF), formerly Namaste Technologies, which dropped 25%. The best performer was Before the marks (TSXV: AVNT) (OTC: AVTBF), which rose 25%.
Lifeist Wellness recently announced the launch of CELLF, a new cellular therapeutic compound for systemic fatigue, through its biosciences and consumer welfare subsidiary. Mikra Cellular Sciences Inc.
Photo courtesy of Maxim Hopman Unsplash
