The U.S. House of Representatives passed the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act on March 25th. That initially led  investors to hope for quick passage of a Senate bill to match the bill passed in the House, which in turn resulted in a +30.5% surge in the munKNEE Pure-Play Canadian LP Pot Stock Index.

Last week, however, Senate Majority Leader Chuck Schumer clarified earlier comments by saying that, while he intended to introduce the Senate's version of the House's MORE Act, called the Cannabis Administration & Opportunity Act (CAOA), in April, he would not be doing so in until toward the end of the month. Those comments caused investors to show their impatience by continuing to dump stocks in the Canadian LP Pot Stock Index across the board and it has now declined -22.3% in the past 2 weeks.

This article highlights the performance of the Index as a whole and that of its constituents over the past 2 weeks, YTD, and from its peak in February of 2021, as follows, in descending order:

1. Organigram (OGI): -15.9% over the past 2 weeks; (-15.4% YTD);  -75.3% from its peak in 2021
2. Cronos (CRON): -18.9%; (-11.2% YTD);  -77.6% from its 2021 peak 
3. Aurora (ACB): -21.7%;  (-35.5% YTD); -81.6% from its 2021 peak
4. Canopy Growth (CGC): -22.9%; (-23.3% YTD);  -87.2% from its 2021 peak
5. Tilray (TLRY): -25.2%; (-9.0% YTD);  -90.0% from its 2021 peak

(Please note: Each company name above is hyperlinked to its website, each trading symbol is hyperlinked to additional financial data and commentary on the company, and the percentage change YTD is hyperlinked to a chart of the company's stock performance.)