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 to close 15.2% lower for the year, and has also had a poor start to 2025. It hit a new all-time high of 4.97 on the last day of March, and then dropped 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. In September, the index fell slightly. It retreated further in October, falling 11.1% to 6.83.
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. Now it has decreased by 0.7%.
Since its peak in February 2021, the global hemp stock index is down 92.6% from a closing high of 92.48.
The top 3 names all rose more than 1% in October;
Each of these shares is updated annually.
The weakest names on October 3 are all down more than 22%.
Two of these stocks are down significantly year-to-date, while Tilray is up slightly.
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 October, falling 6.0% to 12.21. It jumped 123.6% in Q3 to 12.99 and is now up 46.1% year-to-date, up from 8.36.
The strongest performing stock in October was Ascend Wellness (OTC: AAWH ) (CSE: AAWH.U ), which rose 8.0%. The weakest, TerrAscend (OTC: TSNDF ) (TSX: TSND ), was down 14.6% again.
In November, the index will have ten members with the addition of Vireo Health (OTC: VREOF ).
Auxiliary cannabis index
Ancillary commodities lost 13.4% in October as the index fell to 11.02. The index, which rose 14.5% to 12.72 in 3Q, is down 20.0% year-to-date from 13.77 in 2025.
The strongest performing stock in October was Chicago Atlantic Real Estate Finance ( REFI ), which rose 0.6%. The weakest, SHF Holdings, fell by 64.5%.
In November, the index will have eight members, with the removal of LIEN and SHFS, both of which joined in October.
Canadian Hemp LP Index
Canadian LPs fell 10.4% in October as the index fell to 65.91. The index, which increased by 78.4% in the third quarter, reaching 73.56. now up 31.5% in 2025 from 50.11 so far.
The strongest Canadian LP in October was Adastra Holdings (CSE: XTRX ), which rose 12.8%. Rubicon Organics (TSXV: ROMJ ) was the weakest, down 22.5%.
In November, the index will have thirteen members, and Cannabis Decibel (TSXV: DB) will rejoin.
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
Michigan Cannabis sales for March decreased compared to a year ago, as they increased sequentially by 8.9%. At 255.5 million dollars, sales decreased by 7.8 percent compared to the previous year.
The Michigan Cannabis Regulatory Agency breaks down sales by medical and adult use, with medical sales down 36.8% year-over-year to $0.4 million, down 3.8% sequentially, and adult-use sales down 7.7% year-over-year to $255.5 million, up 8.9% sequentially.
The state breaks down sales by category and provides pricing details by category for both medical and adult;
For Adults – UseMedical
As supply continues to expand, adult flower prices have fallen sharply, although the decline is slowing. The average price of $987 per pound in March was up 3.0% sequentially from a record low in December and down 5.3% from a year ago.
Michigan hemp sales are expected to grow 82.1% to $1.79 billion in 2021, 27.9% to $2.29 billion in 2022, and 33.3% to $3.06 billion in 2023. billion In 2026, Michigan cannabis sales decreased by 7.8%.
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
Illinois released sales figures for two months recently. The data was published for the last time at the end of January. The previous report was for Cannabis for adults in May. The November document explained that the lack of data was due to the Metrc transition. Here is the updated data as of the end of February.
The state’s adult cannabis sales fell 5.1% sequentially to $110.7 million in January and then fell 5.4% sequentially in February. Annual growth was -21.0% in January and 19.8% in February, a slight improvement from the last level. Here’s a chart of adult sales over time:
After growing 106% in 2021, 13% in 2022 and 5% in 2023, annual sales for adults are set to grow 5.4% to $1.72 billion in 2024. In 2025, they decreased by 12.5% and amounted to 1.51 billion dollars, which was lower than the total figure of 2022. Two months into 2026, sales for adults are down 20.4%.
There hasn’t been an update from the state on medical cannabis in a while. The state exempts the sale separately from its medical plan, and April issue showed that sales fell 1.6% sequentially to $19.7 million, down 13.2% year over year.
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
Michigan hemp sales for february decreased compared to a year ago, as they increased sequentially by 3.4%. Sales of $234.6 million decreased by 3.0% compared to last year.
The Michigan Cannabis Regulatory Agency breaks down sales by medical and adult use, with medical sales down 38.6% year over year to $0.4 million, down 3.8% sequentially, and adult use sales down 3.0% year over year to $234.2 million, down 3.4% sequentially.
The state breaks down sales by category and provides pricing details by category for both medical and adult;
For Adults – Use
Medical
As supply continues to expand, prices for adult flowers have plummeted. The average price of $945 a pound in January was up 1.3 percent sequentially from a record low in December and down 8.2 percent from a year ago.
Michigan hemp sales are expected to grow 82.1% to $1.79 billion in 2021, 27.9% to $2.29 billion in 2022, and 33.3% to $3.06 billion in 2023. billion In 2026, Michigan cannabis sales decreased by 5.7%.
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
