Fall of cannabis operators in the United States of at least 5.8% during November

Business
New Cannabis Ventures James Alexander Michie

It should be noted that it really had a great inaugural start, despite which it has declined at least 5.8%. And is that cannabis operators in the United States have suffered a fall as mentioned, of 5.8% during the month of November. It is also argued that possibly the early acceleration in the month was linked to the interest in the sector before the elections. This, because the index rose more than 24% in the first week of the month.

In fact, a lot of new issues came to the market. They will be mentioned below: Acreage Holdings (CSE: ACRG) (OTC: ACRZF), DionyMed Holdings (CSE: DYME), Dixie Brands (CSE: DIXI), Green Growth Brands (CSE: GGB) (OTC: XTHCF) , Criado Rogue (CSE: GRIN) (OTC: NVSIF), Harvest Health & Recreation (CSE: HARV) (OTC: HTHHF) and MJardin Group (CSE: MJAR) (OTC: MJARF).

Likewise, it is necessary to highlight the inaugural index, which we detailed at the beginning of November, was composed of eighteen qualified companies. Of these, 14 are multi-state operators (MSO), while the remaining four are focused on the sale of CBD derived from industrial hemp. Likewise, despite the pressure in the sector, seven of the eighteen names were able to publish gains during the month.

The best performances

Of course, it gave rise to the best performances and it is necessary to bring them up. In fact, they came from the manufacturers of CBD Elixinol Global (ASX: EXL) (OTC: ELLXF) and Charlotte’s Web Holdings (CSE: CWEB) (OTC: CWBHF). This was due to investors contemplating the possibility of Farm Bill being approved before the end of the year, with Liberty.

Meanwhile, health sciences (CSE: LHS) and Trulieve (CSE: TRUL) (OTC: TCNNF) lead MSOs. MedMen Enterprises (CSE: MMEN) (OTC: MMNFF), Terra Tech (OTC: TRTC), Curaleaf and Golden Leaf Holdings (CSE: GLH) (OTC: GLDFF), all of which submitted quarterly financial reports during the month, each of them was reduced by more than 20%.

On the other hand, Terra Tech reported a 33% decrease in its cannabis revenue during the third quarter. In reporting on its third-quarter finances, Curaleaf offered guidance for 2019, suggesting it will generate revenues of $ 400 million, with a free cash flow of more than $ 100 million.

Read more.

Source: New Cannabis Ventures

Leave a Reply

Your email address will not be published. Required fields are marked *