The Global Cannabis Stocks Index is having a really good year

314 0

The cannabis basket has seen more gains as the year draws to a close

The Global Cannabis Stock Index (GCSI) is designed to track the performance of leading companies that are exposed to the cannabis industry. The index tracks only companies whose revenues have at least 50% exposure to the cannabis industry. This has led the GCSI to become the definitive global benchmark for marijuana-exposed stocks. It looks like GCSI is having a good year, extending its rally in November.

After going through a roller coaster ride throughout the year, the GCSI seems to have found a dramatic rally in October, rising 13.18%. The news was positive after hitting a new all-time closing low on September 30, ending the month down nearly 26%. October’s rebound was extended in the month just ended, rising 3.7% to 13.67%.

The third quarter registered a 23.7% drop, but so far in the fourth quarter, the index has managed to resume a rise of more than 20%. Since the February 2021 peak, the overall cannabis stock index has fallen 83.1% from the closing high of 81.01.

GrowGeneration, BYND Cannasoft Enterprises Curaleaf, and Scotts Miracle-Gro are the four strongest traders for the past month, up at least 21%. Of all of them, GrowGeneration proved to be the best performer, extending its small gain in October to now climb 94% QTD.

Contrasting the data, WM Technology, Ayr Wellness, Hempacco, and Aurora Cannabis were listed as November’s four weakest performers, with declines of more than 11%. The first on the list fell to a new all-time low during the month and is down 27.3% in the fourth quarter and 80.4% year to date.