Cannabis stocks generally got smashed this year while the ASX...

Cannabis stocks generally got smashed this year while the ASX 200 returned a pretty healthy 13%. Somehow cannabis stocks globally missed out on the rotation trade that propelled the wider markets to all-time highs.

Of the 32 ASX listed cannabis stocks, only 8 are in the black at the end of the year, of which 7 beat the market.

Congratulations, too, to our IHL/IRX co-holders whose IHL shares came in at number 2 on performance and finishing on a high today to be by far the biggest cannabis company listed on the ASX by market capital. IHL is not a competitor and is best viewed as blazing the trail for IRX.

In short, I got it wrong in 2021.

In particular, the delay to the trials (and therefore stated timelines), no evidence of follow up sales, and a concerning lack of certainty around the company’s revenue share model with EC Pharma have combined to extinguish any buying interest outside of number 1 shareholder Cannvalate, Chair Sean Williams, and most recently, substantial holder Niv Dagan.

Anyway, here’s the most important statistic; performance.

2021 return:

1. EPN +318%
2. IHL +300%
3. CAU +54%
4. MXC +48%
5. IDT +38%
6. NTI +33%
7. IRX +17%

Market Capital:

1. IHL $755 million
2. EOF $195 million
3. LGP $108 million
4. CAN $101 million
5. CPH $100 million

(29th: IRX $15 million)


Lowest Shares on Issue:

1. BDA 105 million
2. TSN 120 million
3. WOA 128 million
4. IRX 168 million
5. EMD 174 million

With the biggest and most dynamic name in Australian cannabis Cannvalate Pty Ltd firmly at the steering wheel, the 4^th lowest shares on issues and the 3^rd lowest market capital, it shouldn’t take much in the way of positive news to see the long overdue re-rate we’ve all been expecting.

• Vaping sales uptake?
• Clarity on the EC Pharma revenue share model?
• New non heated inhalation technology acquisition?
• FDA trial updates?
• New strategic holder?
• International deal(s)?
• Merger with an Ela Capital investment?

We are just few here, and hopefully just a little too early to what has the potential to be one of the most spectacular uplifts in all our lives. Finally, a big thank you to all who have contributed with posts here.

Hopefully we will get to read more contributions and hear from new posters moving forwards as news begins to flow.

May 2022 be a very happy new year for IRX and its holders.