More and more states and countries are legalizing cannabis and, as a result, cannabis continues to move toward becoming mainstream. With this, a growing number of companies are also making it to stock exchanges around the world.
As more companies start trading publicly, market participants are also feeling the need to use financial instruments to help them keep track of the cannabis industry’s overall performance. These instruments include ETFs (Exchange-Traded Funds) and indices.
ETFs traded in the United States include the ETFMG Alternative Harvest ETF and the Horizons Marijuana Life Sciences Index ETF.
There are a few indices that track the performance of cannabis stocks. These include the Cannabis Stock Index of the New Cannabis Ventures. This stock index comprises 75 companies.
Then there’s the MJ Index, which is not very closely-followed, and the Viridian Cannabis Stock Index, which has already been discontinued.
What is a stock index in the first place?
A stock index is a measurement of a portion of the stock market. This is computed by getting the weighted average of the prices of selected stocks. This is a tool used by financial managers and investors to describe or get an overview of the market and to compare the return on certain investments.
Green Market Report Index
Now, a new cannabis stock index is set to make its debut: the Green Market Report Index. This index includes 30 publicly traded companies. These 30 public companies are deemed to be the most dominant and the strongest names in the cannabis industry. They have been selected for their market cap, operational standards, and revenues. These companies should also be predominantly focused on the cannabis industry and should be pure cannabis companies.
These 30 cannabis companies are:
1. Canopy Growth Corp (TWMJF)
2. Aurora Cannabis Inc (ACBFF)
3. GW Pharmaceuticals PLD-ADR (GWPH)
4. Aphria Inc. (APHQF)
5. MedReleaf Corp (MEDFF)
6. Cronos Group Inc. (PRMCF)
7. Emerald Health Therapeutics (EMHTF)
8. CannTrust Holdings (CNTTF)
9. Namaste Technologies, Inc. (NXTTF)
10. Supreme Cannabis Company Inc. (CVE:FIRE)
11. The Hydropothecary Corporation (HYYDF)
12. Corbus Pharmaceuticals Holdings Inc. (CRBP)
13. OrganiGram Holdings Inc. (OGRMF)
14. 22nd Century Group Inc. (XXII)
15. Axim Biotechnologies Inc. (AXIM)
16. Kush Bottles Inc. (KSHB)
17. Maricann Group Inc. (MRRCF)
18. Terra Tech Corp. (TRTC)
19. Isodiol International Inc. (ISOLF)
20. WeedMD Inc. (WDDMF)
21. CannaRoyalty Corp. (CNNRF)
22. MPX Bioceutical Corporation (MPXEF)
23. Cannabis Wheaton Income Corp. (CBWTF)
24. Invictus MD Strategies Corp. (IVITF)
25. MeriMed Inc. (MRMD)
26. GrowGeneration Corp (GRWG)
27. Innovative Industrial Properties Inc. (IIPR)
28. AeroGrow International, Inc. (AERO)
29. CV Sciences Inc. (CVSI)
30. Emblem Corp. (EMMBF)
You can check the market cap, revenue, and total liabilities for these companies at the Green Market Report’s website.
Here is the portfolio for the top 10 companies on the list:
Canopy Growth Corporation leads with a market capitalization of $5.58 billion. Aurora Cannabis Inc. follows closely with a $5.53-billion market cap. GW Pharmaceuticals plc is third with a market cap of $3.88 billion. Both Canopy Growth and Aurora Cannabis are Canada-based companies while GW Pharmaceuticals is headquartered in Cambridge, UK. In fact, GW is the only European cannabis company on the list.
Aphria Inc., MedReleaf Corp., Cronos Group Inc., Emerald Health Therapeutics, CannTrust Holdings Inc., Namaste Technologies Inc., and the Supreme Cannabis Company, which secured the fourth to tenth spots are also Canadian cannabis companies.
Other Canadian companies in the index are The Hydropothecary Corporation, OrganiGram Holdings, Maricann Group Inc., WeedMD Inc., CannaRoyalty Corp., MPX Bioceutical Corporation, Cannabis Wheaton Income Corp., Invictus MD Strategies Corp., and Emblem Corp.
The rest of the companies — Corbus Pharmaceuticals Holdings Inc., 22nd Century Group Inc., Axim Biotechnologies Inc., Kush Bottles Inc., Terra Tech Corp., Isodiol International Inc., MariMed Inc., GrowGeneration Corp., Innovative Industrial Properties Inc., AeroGrow International Inc., and CV Sciences Inc. — are all based in the United States.
The list is reviewed every quarter.