Here's how these ASX cannabis shares have performed in 2019

It has been a reasonably disappointing year for AusCann Group Holdings Ltd (ASX:AC8), Cann Group Ltd (ASX:CAN), and many other cannabis companies…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In 2018 a number of leading cannabis shares lit up the market with some stellar gains.

This was driven largely by investor optimism after the Federal Government announced changes to regulations that permitted the export of medicinal cannabis.

Since then investor optimism has slowly been fading, possibly due to the perceived lack of progress that has been made by many cannabis companies in respect to revenue generation.

Things have been particularly disappointing for shareholders this year, with the majority of cannabis shares underperforming the market.

Here's how these shares have performed in 2019:

The AusCann Group Holdings Ltd (ASX: AC8) share price has tumbled 44% since the start of the year. Not even news that AusCann has been added to the All Ordinaries index has been enough to lift its share price.

The Cann Group Ltd (ASX: CAN) share price is up 2.5% year to date. However, this is thanks to a 37% jump in its share price over the last 10 days. This was driven by a revision to its expansion plans and news of an offtake agreement with Canadian cannabis giant Aurora Cannabis.

The Creso Pharma Ltd (ASX: CPH) share price has tumbled 35% lower since the start of 2019. This is despite the company announcing that its Canada-based operation has been granted a license to cultivate cannabis. This makes Creso the only ASX-listed company that has 100% ownership of a Canadian licensed producer.

The MMJ Group Holdings Ltd (ASX: MMJ) share price is trading flat year to date. Last month MMJ released its half year results and revealed half year revenue of $152,000 and a half year loss of $13.1 million.

The THC Global Group Ltd (ASX: THC) share price has been a positive performer and is up 15% year to date. Its shares are in a trading halt today pending an announcement relating to the completion of an acquisition in Nova Scotia, Canada.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A young man punches the air in delight as he reacts to great news on his mobile phone.
Broker Notes

These ASX 200 shares could rise 30% to 50%

Brokers have good things to say about these cheap shares.

Read more »

Man jumps for joy in front of a background of a rising stocks graphic.
Share Market News

Record CBA share price and Iran-Israel ceasefire lift ASX 200 financials to new peak

ASX financial shares led the 11 market sectors last week, gaining 1.82% and reaching a record high.

Read more »

A female ASX investor looks through a magnifying glass that enlarges her eye and holds her hand to her face with her mouth open as if looking at something of great interest or surprise.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Broker Notes

10 Aussie stocks to buy in FY 2026

Let's see which shares analysts think could be buys in the upcoming financial year.

Read more »

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing end to the trading week for investors this Friday.

Read more »

A young boy points and smiles as he eats fried chicken.
Share Gainers

3 ASX All Ords shares smashing the benchmark this week

Investors are sending these three ASX All Ords shares rocketing 18% to more than 29% this week. But why?

Read more »

watch
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

Disappointed man with his head on his hand looking at a falling share price his a laptop.
Share Fallers

Why APA, Flight Centre, Reece, and Transurban shares are falling today

These shares are having a tough finish to the week. But why?

Read more »