An Introduction
None of the 5 constituents in the Canadian Cannabis LPs Portfolio advanced this week, going down 6.1% on average and are now down 44.8%, on average, since Tuesday, April 30th, when the DEA announcement that it planned to follow through on the DHS recommendation that cannabis be reclassified from a Schedule I drug to a less stringently regulated Schedule III drug was met with an enthusiastic market response. In fact, the 5 stocks are now down 20.1% from where they were, on average, 8 weeks ago (i.e. from April 26th), before the announcement.
Below are the details of the returns of the stocks in the munKNEE's Canadian Cannabis LPs Portfolio, in descending order, for the week ending June 21st and for the last 8 weeks as well as any recent news, analyses and/or commentary where applicable.
- OrganiGram Holdings (OGI): No Change this week; down 17.7% since April 26th
- Cronos Group (CRON): down 2.1% this week; down 10.0% since April 26th
- Tilray Brands (TLRY): down 2.4% this week; down 6.7% since April 26th
- Canopy Growth (CGC): down 5.4% this week; down 23.1% since April 26th
- Aurora Cannabis (ACB): down 11.3% this week; down x% since April 26th
Average: down 6.1% this week; down 22% since April 26th
Conclusion
The Canadian cannabis LPs may well decline even further based on historical data (see here) so the question now is how much further it will drop before stabilizing. Time will tell. Stay tuned.
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Aurora Cannabis Q4 Financials Continue To Disappoint: Stock Declines
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