At the height of the cannabis stock frenzy back in March/April of 2019 there were 17 companies out of a total of 319 companies listed on the various stock exchanges - CSE (155), OTC (48), TSXV (42), ASX (20), TSX (18), NASDAQ (18), NYSE (11) and the NEO (7) - with valuations over $1 billion but now there are only 10. Here is the list.

The list below is ranked in order of highest to lowest and all numbers are in Canadian dollars (go here to convert into USD) as of December 31st. GW Pharmaceuticals Plc (Nasdaq: GWPH) and Innovative Industrial Properties Inc. (NYSE: IIPR) have been excluded from the list so that the remaining stocks are comparable relative to their performance.

1. Canopy Growth Inc. (TSX: WEED; NYSE: CGC)

• Current Market Cap: $9.51B
• Price Decline from Peak 2019 Price: -60.9%
• Latest 2-month Stock Performance: +3.7%

2. Curaleaf Holdings Inc. (CSE: CURA; OTCQX: CURLF)

• Current Market Cap: $3.75B
• Price Decline from Peak 2019 Price: -45.8%
• Latest 2-month Stock Performance: +30.5%

3. Cronos Group Inc. (TSX: CRON; Nasdaq: CRON)

• Current Market Cap: $3.43B
• Price Decline from Peak 2019 Price: -68.6%
• Latest 2-month Stock Performance: -7.5%

3. Aurora Cannabis Inc. (TSX: ACB; NYSE: ACB)

• Current Market Cap: $3.12B
• Price Decline from Peak 2019 Price: -78.9%
• Latest 2-month Stock Performance: -40.9%

5. Green Thumb Industries Inc. (CSE: GTII; OTCQX: GTBIF)

• Current Market Cap: $2.62B
• Price Decline from Peak 2019 Price: -40.9%
• Latest 2-month Stock Performance: +15.1%

6. Tilray Inc. (Nasdaq: TLRY)

• Current Market Cap: $2.22B
• Price Decline from Peak 2019 Price: -82.9%
• Latest 2-month Stock Performance: -23.2%

7. Aphria Inc. (TSX: APHA; NYSE: APHA)

• Current Market Cap: $1.71B
• Price Decline from Peak 2019 Price: -52.3%
• Latest 2-month Stock Performance: +2.7%

8. Trulieve Cannabis Corp. (CSE: TRUL)(TCNNF)

• Current Market Cap: $1.7B
• Price Decline from Peak 2019 Price: -25.6%
• Latest 2-month Stock Performance: +14.8%

9. Harvest Health and Recreation Inc. (CSE: HARV)(HRVSF)

• Current Market Cap: $1.2B
• Price Decline from Peak 2019 Price: -70.3%
• Latest 2-month Stock Performance: +15.3%

10. Charlotte's Web Holdings Inc. (CSE: CWEB)(CWBHF)

• Current Market Cap: $1.03B
• Price Decline from Peak 2019 Price: -69.1%
• Latest 2-month Stock Performance: -39.0%

Conclusion

All markets trade in cycles and the cannabis sector is no different so now might well be the time to consider an investment in one or two of the above companies while prices are still low.