Global Cannabis Index down in March, but some winners! The Global Cannabis index, which went through its last quarterly rebalancing at the end of 2017 and had 75 members that were equally weighted at the time, declined 24.1% in the first three months of the year. Despite the losses, the index is still up almost 90% since late October.
Fighting the downward pressure on the sector, 13 companies produced double-digit gains. The top three gainers included InMed Pharmaceuticals (TSX: IN) (OTC:IMLFF), which rose 55% after uplisting from the CSE to the TSX, Canopy Growth (TSX: WEED) (OTC: TWMJF), which gained 22.5%, and Beleave (CSE: BE) (OTC: BLEVF), which increased 19.8%. 10 companies fell by more than 25%. Year-to-date, 16 companies have lost more than half their value, while 10 have gained more than 10%. The 6 companies with gains in excess of 20% include PotNetwork Holdings (OTC: POTN), AusCann (ASX: AC8) (OTC: ACNNF), THC Biomed(CSE: THC) (OTC: THCBF), iAnthus Capital (CSE: IAN) (OTC: ITHUF), Invictus MD Strategies(CSE: GENE) (OTC: IVITF) and Kush Bottles (OTC: KSHB).
Always do your DD before investing in any stock (and GLTA next week...looking GREEN!)