An Introduction

Five of the 7 constituents in our American Cannabis MSO Portfolio went up 4.9%, on average, during the week ending June 21st as compared to all 7 going down 8.2% the previous week. That being said, however, they remain down 33.7%, on average, from their prices on April 30th when the DEA announced that it planned to follow through on the DHS recommendation that cannabis be reclassified from that of a Schedule I drug to a less stringently regulated Schedule III drug.

Back in September the Portfolio soared 122% within 3 weeks of the initial re-classification announcement only to retreat by the end of October to below what it had been when the reclassification was initially recommended and such a steep decline could be happening again. 

Below are the details of the returns of the stocks in the American Cannabis MSOs Portfolio  by constituent, in descending order, for the week ending June 21st  and since the April 30th peak:

1. Trulieve Cannabis (TCNNF): up 8.7% w/e June 21st; down 35.4% since April 30th
   • Trulieve Announces Opening of 200th Dispensary
2. TerrAscend (TSNDF): up 7.6% w/e June 21st; down 35.3% since April 30th
   • What's The Fair Value Of TerrAscend?
3. Ayr Wellness (AYRWF): up 7.1% w/e June 21st; down 42.8% since April 30th
4. Green Thumb (GTBIF): up 5.3% w/e June 21st; down 22.9% since April 30th
5. Verano (VRNOF): up 3.0% w/e June 21st; down 44.7% since April 30th 
   • Verano Expands Florida Retail Footprint to 77 Dispensaries Statewide
6. Curaleaf (CURLF): down 1.0% w/e June 21st; down 36.9% since April 30th
7. Cresco Labs (CRLBF): down 4.3% w/e June 21st; down 39.8% since April 30th

Average: up 4.9% w/e June 21st; down 33.7% since April 30th

Conclusion

The American Cannabis MSOs Portfolio  may well have further to decline based on historical data, so the question now is how much further could it drop before stabilizing. Time will tell. Stay tuned.

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