Green Market Report Stock Index Releases 2018 Q3 Summary Report: Third Quarter Jumps 56% Based Major Industry Advancements
New York City – October 26, 2018 /AxisWire/The Green Market Report (GMR), the cannabis industry’s most trusted source for credible in-depth financial and economic reporting, today released its 2018 Cannabis Company Index Q3 Summary Report. The report can be downloaded at GreenMarketReport.com/Reports.
The Green Market Report Cannabis Company Index was on fire in the third quarter of 2018. Cannabis stocks started 2018 in selloff mode. The Index fell 21.9% in the first quarter, but recovered in the second quarter and gained 20%. The Index jumped a whopping 56% during the third quarter.
The second quarter was notable for new public cannabis companies, such as MedMen Enterprises, The Green Organic Dutchman and Green Thumb Industries. The exchanges also stirred up some excitement, as the NASDAQ listed Cronos Group and the New York Stock Exchange welcomed Canopy Growth to its home. It seemed as if that quarter would be hard to top, but in the cannabis industry, records are meant to be broken.
“This quarter was impressive for the gains that cannabis stocks made. Some of these valuations are very rich, but the news cycle over these three months genuinely excited investors” stated Debra Borchardt, CEO of Green Market Report.
The best performing stock in the GMR Index was Isodiol (OTC: ISOLF). It had an astounding third quarter. It was in the bottom five performer list for the second quarter and now it tops the best performer list. Its shares jumped from 38 cents, hit a high of $3.60 in August and then closed out the quarter at $2.89. The company has aligned itself with top athletes as it carves out a niche for addressing sports and it appointed a new CFO.
Axim Biotechnologies (OTC: AXIM) made the worst performing stock list for every quarter so far this year. The stock began the quarter at $3.03 and finished it at $1.85; and it has continued to fall even further in the fourth quarter. Revenues have remained flat and while the losses have been trimmed, it continues to operate at a loss.
Based on acquisitions alone, the GMR Index was forced to remove MedReleaf once the deal with Aurora Cannabis closed. Hiku Brands was also removed from the list following its acquisition by Canopy Growth. In addition, Axim Biotechnologies, Terra Tech Corp. and Namaste Technologies were also removed from the index.
The new additions to the index include Charlotte’s Web (CSE: CWEB), Tilray (NASDAQ: TLRY), Green Thumb Industries (CSE: GTII), Sunniva (OTC: SNNVF) and Aleafia Health Inc. (OTC: ALEAF).
“The stock markets continue to welcome more solid cannabis companies” added Borchardt. “As the exchanges also begin to list cannabis companies, the stigma will continue to drop”.
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