Cannabis Central: Pot Stock Crash Continued This Past Week

This past week pot stocks declined a further 5.5% on the heels of a 6.9% decline the previous week. If the latest industry news is any indication we are not on the verge of a turnaround any time soon. Below is a table that shows the dismal performance of the sector for the week ending January 31 for both Canadian LPs and American MSOs and highlights the reasons why five out-performers did so during the week during the week. (Source) 

The cannabis market consists of 319 publicly-traded companies of which the vast majority trade for less than $1/share so even small changes in the price can have a very large affect on the percentage change that represents so this analysis primarily emphasizes those stocks that trade above $1/share. (Source of data below)

Top 5 Performers and Reasons Why

1. Vireo International Health Inc. (CSE:VREO; OTCQX:VREOF) +17%
   • announced the expansion of the Company's partnership with Leaf Trade to provide a wholesale order and fulfillment management platform in four states where Vireo operates.
2. TerrAscend Corp. (CSE:TER; OTCQX:TRSSF) +15%
   • terminated its plan to acquire all of the issued and outstanding equity interests of Gravitas Nevada Ltd.
   • announced that Jason Ackerman, Executive Chairman of the Company, has been named interim CEO, replacing co-founder, Michael Nashat.
3. Harvest Health & Recreation Inc. (CSE:HARV; OTCQX:HRVSF) +15%
   • announced a strategic relationship with Harvest of Battle Creek, a new provisioning center in Michigan.
4. Curaleaf Holdings Inc. (CSE:CURA; OTCQX:CURLF) +15%
   • provided positive updates on the acquisitions of Cura Partners, Inc., GR Companies Inc. and Alternative Therapies Group.
   • announced that all shareholders holding individually more than 1% of Curaleaf's shares outstanding and all Cura Partners, Inc. shareholders have agreed to an amended lock-up agreement in connection with the anticipated closing of Curaleaf's acquisition of Cura Partners, Inc.
   • announced that it was opening Cape Cod's first adult-use retail dispensary on Wednesday, January 29.
5. Liberty Health Sciences Inc. (CSE:LHS; OTCQX:LHSIF) +9%
   • announced favorable financial results for Q3 the third quarter ended November 30, 2019.