American Cannabis MSOs Rode Wave Of Wishful Thinking In April: Up 20%, On Average
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Introduction
Reps. Dina Titus (D-NV) and Ilhan Omar (D-MN), co-chairs of the Congressional Cannabis Caucus, unveiled the “Evidence-Based Drug Policy Act” last week which contributed to a 20% jump in the American Cannabis MSOs Portfolio (see details below) in April.
The Purpose of the Proposed Act
The proposed act would repeal a long-standing federal gag order preventing the Office of National Drug Control Policy (ONDCP) from even whispering support for legalizing Schedule I drugs like cannabis. Yes, under current law, the drug czar is legally obligated to oppose marijuana legalization—even if science or common sense says otherwise.
If passed, the bill would allow the drug czar, Sara Carter, who has cautiously praised medical marijuana to support reform initiatives based on evidence, not ideology, and is backed by a broad chorus of cannabis advocates who agree it’s high time ONDCP was able to use actual data to do its job, i.e. allow the drug czar to establish cannabis policy based on the facts, not fear.
The American Cannabis MSOs Portfolio
Below is how the constituents of the American Cannabis MSOs Portfolio performed in April, in descending order:
- Verano Holdings (VRNOF): UP 38,5% in April;
- Trulieve Cannabis (TCNNF): UP 27.6% in April;
- Cresco Labs (CRLBF): UP 25,6% in April;
- Green Thumb Industries (GTBIF): UP 16.8% in April;
- Curaleaf Holdings (CURLF): UP 8.0% in April;
- TerrAscend Corporation (TSNDF): DOWN 10.2% in April
In Summary:
As mentioned in the introduction, the Portfolio went UP 20.1% in April.
The Canadian cannabis LP company Canopy Growth has structured its U.S. operations through Canopy USA with its success in the U.S. depending heavily on federal cannabis reform and, as such, it responded in like fashion to the American MSOs as highlighted above, going UP 39.4% in April.
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This article has been composed with the exclusive application of the human intelligence (HI) of the author. No artificial intelligence (AI) technology has been deployed.
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