Green Market Report Cannabis Company Index Releases 2019 Q2 Review
Cannabis Stocks Plunge In the Second Quarter As Index Drops 21%
NEW YORK, August 6, 2019 (Newswire.com) - The Green Market Report (GMR), the cannabis industry’s most trusted source for credible in-depth financial and economic reporting, today released its 2019 Cannabis Company Index Q2 Summary Report. The report can be downloaded at GreenMarketReport.com/Reports.
The GMR Index, which is one of the longest-running cannabis company indexes, rose 40% in the first quarter, but then the sector tumbled and the Index fell 21% in the second quarter. By contrast, the S&P 500 rose 4.3%. The GMR Index is still up 19% for the entire year.
The second quarter was notable for the outsized merger announcements. Yet, cannabis companies were reporting revenue figures that weren’t in line with the net losses as many companies continued to reinvest while building empires.
“Investors began to lose their patience as many were disappointed with earnings that didn’t live up to the hype. Throw in a couple of company scandals and many decided to harvest their losses,” said Debra Borchardt, CEO of Green Market Report.
“The third quarter so far hasn’t shown any signs that the selling is over,” added Borchardt. “However, with new products about to hit the shelves of dispensaries in Canada later this year and new U.S. states legalizing in 2020, this could be a stellar buying opportunity.”
The Green Market Cannabis Company Index has made changes to the Index for the third quarter, which can be found in this article.
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The Green Market Report (GMR) is headquartered in New York and is poised to be the center for trustworthy cannabis financial news. The site offers original content on cannabis financial news, cannabis data, and wholesale cannabis pricing. For more information, please visit www.greenmarketreport.com or email info@greenmarketreport.com. Follow us on Facebook, Instagram, and Twitter @GreenMarketRpt.
Source: Green Market Report