Cannabis Central Looks At The Week That Was - And It Was Ugly

Pot stocks declined relentlessly week after week in 2019 - declining 64.6% from their peaks in March/April by the end of the year - and have continued to do so in 2020. The first week of January (w/e Jan.3rd) saw cannabis stocks end the year with a refreshing increase of 5.1% (see TalkMarkets article here) but this past week cannabis stocks, on average, reverted to their negative ways, declining 5.8%. 

The table below from WeedStreet420 reveals that this past week (w/e Jan.10th) only 1 Canadian LP (Licensed Producer) stock and 1 American MSO (Multi-State Operator) had at least a 10% increase in their stock prices, namely TerrAscend Corp. (CSE:TER) and 4Front Ventures Corp, (CSE:FFNT; OTCQX:FFNTF), up 11% and 34.5% respectively, while 10 others saw somewhat less positive returns. Those 12 stocks only represent 5.4% of the WeedStreet420 universe of 222 stocks.

(All currency figures are in Canadian dollars. Go here to convert into USD.)

Naturally, I am disappointed as I had hoped that the marijuana market would build on the surge in pot stock prices realized on Thursday and Friday of a week ago but such certainly was not the case. I have my fingers crossed that the advent of Cannabis 2.0 sales (retail sales of infused edibles, beverages, confectioneries, lotions, etc.) in Canada and the continuing expansion of the U.S. multi-state operators will generate new sales and profits - and higher stock prices - in the weeks to come.