Canadian cannabis stocks took a beating In July, with the Canadian Cannabis LP Index posting a 9.8% loss while continuing the declining streak, which was slightly interrupted by a 1% gain in June.
The index, which saw a 30.1% drop in 2020, grew 13.6% over the past year. Year-to-date, the index is up 17.8%.
Still, it's not even near the all-time closing high of 1314.33 of Sept. 2018. After posting a new 52-week closing low of 196.10 in March 2020, it closed 65.3% above that level at the end of last month.
The index includes 38 qualifying publicly traded Canadian companies divided into three sub-indexes, including Canadian Cannabis LP Tier 1 Index (3 companies), Canadian Cannabis LP Tier 2 Index (15 companies) and Canadian Cannabis LP Tier 3 Index (20 companies).
The index, which is rebalanced each …