Hemp stocks, as measured by the Global Hemp Stock Index, were quite volatile in 2024 and then again in 2025 as well. Although the index rose in December, it fell on the year. In January, the indicator decreased by 10.6%, reaching 5.89. February saw a drop in prices, but the market recovered with the index ending the month at 5.86, down 0.5%.

After collapsing 21.8% in late 2024 to 6.88 in Q4, the index fell heavily in Q1 and then marginally in Q2. The global hemp stock index, which now has 27 members, gained 53.0% in the third quarter but fell 14.2% in the fourth quarter, down 4.2% for the full year. In 2026, it decreased by 11.1%.

Since its peak in February 2021, the global hemp stock index is down 93.7% from a closing high of 92.48.

The 3 strongest names in February, each an MSO, were all up more than 13%;

Jazz Pharma rallied in 2026, but the other two declined.

February’s 3 weakest names are all down more than 13%;

All three have fallen significantly in 2026 so far.

We will summarize the performance of the index again in a month. In April, we historically combined the two articles, and we update here the other indexes that New Cannabis Ventures continues to maintain: the American Cannabis Operator Index, the Ancillary Cannabis Index, and the Canadian Cannabis LP Index.

American Hemp Operator Index

The ACOI sank in January, falling 12.5% ​​to 11.53, and fell further in February, falling 5.8% to 10.87. In 2025, it increased by 57.7% to 13.18 and decreased by 17.5% in 2026. The large AdvisorShares Pure US Cannabis ETF ( MSOS ) fell 3.7% in February.

The strongest performing stock in February was TerrAscend (OTC: TSNDF ), up 7.7%. The weakest, Vireo Growth (OTC: VREOF ), fell 17.9%.

In March, the index will have seven members with the removals of Jushi Holdings (OTC: JUSHF ) and Vireo Growth.

Auxiliary cannabis index

Ancillary commodities lost 5.7% in February as the index fell to 9.84. The index decreased by 19.5% in 2025, reaching 11.09, and this year it decreased by 11.3%.

The strongest stock in February was Turning Point Brands (NASDAQ: TPB ), which rose 13.1%. The weakest iPower fell by 55.8%.

In March, the index will have seven members after the removal of GrowGeneration (NASDAQ: GRWG ), iPower (NASDAQ: IPW ) and Chicago Atlantic BDC (NASDAQ: LIEN ) during February’s low trading volume.

Canadian Hemp LP Index

Canadian LPs fell 0.9% in February as the index fell to 55.65. In 2025, the index increased by 17.8%, reaching 59.01, and in 2026, it decreased by 5.7%.

The strongest Canadian LP in February was Rubicon Organics (TSXV: ROMJ ), which rose 8.9%. Simply Insoluble Concentrates (TSXV: HASH ) was the weakest, down 27.8%.

In March, the index will have the same thirteen members.