American Cannabis News

Cannabis Stocks Extend Decline in November – New Cannabis Ventures

Published

3 months ago

November 29, 2025

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Cannabis Stocks Rocketed Higher in August – New Cannabis Ventures

Hemp stocks, as measured by the Global Hemp Stock Index, were quite volatile in 2024 and have been in 2025 as well. The index fell 7.5% in December last year to close 15.2% lower for the year, and it was also a poor start to 2025. It hit a new all-time high of 4.97 on the last day of March, before falling back in early April. The index gained 11.5% in April, but ended the second quarter from there, closing at 5.02. Q3 was strong with increases in July and August, and September, which started with a pullback, ended with another increase before pulling back on the last day. The index ended September with only a small decline before falling in October. It retreated sharply again in November, falling 11.0% to 6.08.

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 28 members, fell 27% year-to-date in June. After a 53.0 percent rally in the third quarter, the index increased by 11.6 percent compared to last year. It is now down 20.8% in Q4 and down 11.6% year-over-year.

Since its peak in February 2021, the global hemp stock index is down 93.4% from a closing high of 92.48.

The top 3 names were all up more than 11% in November;

Each of these stocks has been significantly upgraded year-over-year, and Q4 earnings were positive for each of them, especially Jazz Pharma and Village Farms.

November’s 3 weakest names are all down more than 39%;

All of these stocks are down significantly year-over-year, and Q4 has been brutal for each.

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 fell again in November, falling 24.9% to 9.17. It rose 123.6% to 12.99 in Q3 and is now up 9.7% year-to-date from 8.36. The large AdvisorShares Pure US Cannabis ETF ( MSOS ) fell 8.7%.

The strongest performer in November was Glass House Brands (OTC: GLASF ) (NEO: GLAS.AU ), which fell 13.5%. The weakest, Cresco Labs (OTC: CRLBF ) (CSE: CL ), fell 36.8%.

The index will have eight members in December with the removals of Ascend Wellness (OTC: AAWH ) and Vireo Health (OTC: VREOF ).

Auxiliary cannabis index

Ancillary commodities lost 1.7% in November as the index fell to 10.83. The index, which rose 14.5% to 12.72 in Q3, now fell 14.9% in Q4. It is down 21.4% year-to-date from 13.77 in 2025.

The strongest stock in November was Turning Point Brands, which rose 11.4%. The weakest, WM Technology, fell by 19.3%.

In December, the index will have the same eight members.

Canadian Hemp LP Index

Canadian LPs fell 15.0% in November as the index fell to 56.00. The index, which increased by 78.4% in the third quarter, reaching 73.56. now down 23.9% in Q4 but up 11.8% in 2025 from 50.11 year to date.

The strongest Canadian LP in November was Organigram Holdings (TSX: OGI ), which rose 0.4%, leaving it as the sole gainer on the index. Simply Solventless (TSXV: HASH ) was the weakest, down 39.1%.

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

Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El

In this article.

Cresco Labs, CRLBF:, blue, glass house brands, HASH:, Jazz, Jazz Pharmaceuticals, maps, BREAD, Organigram Holdings, shf holdings, shfs, Simply unsolvable, Tilray brands, TLRY:, TPB:, Revolving brands, VFF:, Farms, wm technology

Related Topics:Cannabis Decline Extend November Stocks Ventures

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American Cannabis Coverage by State

Cannabis Sales Remained Weak in February – New Cannabis Ventures

Published

2 days ago

March 3, 2026

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Cannabis Sales Remained Weak in February – New Cannabis Ventures

New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s 15-state monthly cannabis sales data.

In February, the sale of cannabis decreased sequentially by 3.6%. Adjusted for fewer days, sales rose 6.7% sequentially on a daily basis. In this review, we break down the results by state, starting with the western markets and then ending with the eastern markets. Overall, the BDSA estimates sales in 15 markets totaled $1.99 billion in February, up 2.7 percent from a year ago.

Western markets

BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In February, the annual growth was negative in 3 states. Growth in each of these states fell in succession.

Eastern markets

BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, Ohio and Pennsylvania. Year-over-year growth in February ranged from -1.5% in Missouri to +27.3% in Ohio. Ohio began using adults in August, spurring growth. Note that Florida and Pennsylvania are medical markets only. On a daily basis, sequential gains declined in both markets. Year-over-year growth was negative in both markets and increased sharply in only one country. We warned of a potential slowdown in Florida despite strong dispensary and unit volume growth due to competitive pressure.

For readers interested in a deeper look hemp markets in these fifteen states and more, including segmentation by additional product categories, brand and product details, longer history and segmentation by product attributes, learn how BDSA Solutions can give you access to actionable data and analytics.

In this article.

Arizona, bdsa, California, cannabis data analysis, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Oregon, Pennsylvania

American Cannabis News

Trulieve Q4 Revenue Falls 3% – New Cannabis Ventures

Published

4 days ago

March 1, 2026

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On February 26, 2026 at 6:29 am

Published by NCV Newswire

Trulieve reports 2025 Q4 and full-year results with 60% gross margin and record cash flow generation

Full year revenue of $1.2 billion with a gross margin of 60%
2025 record cash flow from operations of $273 million and free cash flow of $229 million*
A record 50.1 million branded products sold in 2025, up 5% from last year

TALLAHASSEE, Fla., Feb. 26, 2026 /PRNewswire/ — Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “The Company”), the leading and top performing cannabis company in the United States, today announced its results for the fourth quarter and full year ended December 31, 2025. Numbers may not add up perfectly due to rounding.

2025 Full Year Financial and Operating Highlights*

Revenue is $1.2 billion with 94% of revenue coming from retail.
Achieved 60% gross margin, with GAAP gross profit of $711 million.
A net loss attributable to common stockholders of $116 million was reported. Adjusted net loss of $27 million excludes non-recurring charges, asset impairments, disposals and discontinued operations.
Achieved record adjusted EBITDA of $427 million*, or 36% of revenue, up $7 million, or 2%, from 2024.
Generated record cash flow from operations of $273 million and free cash flow of $229 million*.
The cash amount at the end of the year was 256 million dollars.
Repaid $368 million of senior secured notes and repaid $15.8 million of mortgages in 2026.
Private placement of $140 million of senior secured notes due 2030.
Conditional approval granted for a Distributorship license under the Texas Compassionate Use Program.
Grown the rewards program to 915,000 members as of December 31, 2025.
11 dispensaries were added in 2025, with 233 retail locations nationwide at the end of the year.

_{*See “Non-GAAP Financial Measures” below for additional information and reconciliations to GAAP for all non-GAAP measures.}

Q4 2025 Financial and Operating Highlights*

Revenue was $293 million, with 93% of revenue coming from retail.
Achieved 60% gross margin, with GAAP gross profit of $175 million.
A net loss attributable to common stockholders of $43 million was reported. Adjusted net loss of $3 million excludes non-recurring charges, asset impairments, disposals and discontinued operations.
Achieved adjusted EBITDA of $105 million* or 36% of revenue.
Cash flow from operations of $59 million and free cash flow of $56 million*.
A new mobile app serving Florida customers has been released, enabling patients to browse and reserve products, view promotions and check reward status in a seamless digital experience.
Opened one dispensary in Findlay, Ohio.

_{*See “Non-GAAP Financial Measures” below for additional information and reconciliations to GAAP for all non-GAAP measures.}

Recent developments

Opened one dispensary in Fort Myers, Florida.
Closed second tranche of $60 million private placement of senior secured notes due 2030.
There are currently 234 retail dispensaries and more than four million square feet of processing and processing capacity in the United States.

Management Commentary

“We finished the year strong, winning a conditional license in Texas and repositioning our debt,” said Trulieve CEO Kim Rivers. “With a re-planning on the horizon, Trulieve is driving its momentum through 2026, prioritizing expanded reach, loyal customers, branded products and growth initiatives.”

Original press release

Published by NCV Newswire

New Cannabis Ventures’ NCV Newswire aims to gather high-quality content and information about leading cannabis companies to help our readers filter through the noise and stay on top of the most important cannabis business news. The NCV Newswire is edited by an editor and, however, is not automated. Got a secret news tip? Get in touch.

aawh

Share Repurchases Are Not Always a Good Idea for Cannabis Companies – New Cannabis Ventures

Published

5 days ago

February 28, 2026

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You are reading this week’s edition of New Cannabis Ventures, a weekly magazine we have published since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve, as well as links to the most important news of the week. We no longer email them like we used to, but post this and all newsletters on our website here.

friends,

Earnings season kicked off this week, and so far it’s been a mixed bag. Green Thumb Industries beat expectations, while Trulieve missed. Cronos Group also missed adjusted EBITDA despite falling revenue.

What’s most interesting to me about these quarterly reports are the updates we get in documents or press releases. A large category is share buybacks that are done.

GTI, which has a strong balance sheet, especially compared to other MSOs, has bought back more inventory. Cronos Group, which is cash- and debt-free, also bought some shares in November and December. These shares were acquired at close to tangible book value.

Trulieve did not report the share buyback, but the 10-K disclosed a 2025 bonus announced on 2/24 for CEO Rivers. The company has net cash, but its tangible book value is very negative and has deteriorated. The company does not buy back shares.

Ascend is set to report Q4 financials on 3/12 and it will be interesting to see if this very cheap stock company continues to buy back shares. The company has negative tangible book value, and the GTI 10-K disclosed that Ascend paid a $17 million penalty to GTI on 2/12, so I don’t expect it to be as aggressive with buybacks.

Stock buybacks seem like a good thing, especially when valuations are so low. However, investors should be wary of hemp companies buying back shares when they have balance sheet challenges.

Sincerely,

Alan:

New Cannabis Ventures publishes curated articles as well as exclusive news. Here is what we have published in the last 2 weeks.

Exclusives

Canadian cannabis sales hit a new record high in December

Michigan hemp sales began in 2026

Financial statements

Green Thumb Industries’ revenue is rising as profitability improves

Trulieve Q4 revenue down 3%

Capital increase

Curaleaf took out $500M over 3 years at 11.5%

GTI increases borrowings by $50 million

Follow Alan for real-time updates X.com:. Share and discover industry news with like-minded people on the largest group of cannabis investors and entrepreneurs LinkedIn:.

View: Public Hemp Company Revenue and Earnings Trackingwhich ranks the highest-earning hemp stocks.

Stay on top of the most important communications from public companies by watching what’s coming cannabis investor calendar.