Every Constituent In American Cannabis MSO Portfolio Declined Last Week

An Introduction

All 7 constituents in our American Cannabis MSO Portfolio declined last week by an average of 8.2% and are now down 36.7%, on average, since the transient excitement of 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 decline could be happening again. The 7 stocks are now down 17.8% below where they were, on average, just 7 weeks ago (April 26th).

Below are the details of the returns of the stocks in the American Cannabis MSOs Portfolio  by constituent, in ascending order, for the week ending June 14th and since the April 30th peak:

  1. Curaleaf (CURLF): down 10.9% w/e June 14th; down 36.3% since April 30th
  2. Ayr Wellness (AYRWF): down 10.8% w/e June 14th; down 46.6% since April 30th
  3. Verano (VRNOF): down 9.4% w/e June 14th; down 46.3% since April 30th 
  4. TerrAscend (TSNDF): down 9.1% w/e June 14th; down 39.9% since April 30th
  5. Cresco Labs (CRLBF): down 7.9% w/e June 14th; down 7.9% since April 30th
  6. Green Thumb (GTBIF): down 7.7% w/e June 14th; down 26.8% since April 30th
  7. Trulieve Cannabis (TCNNF): down 6.6% w/e June 14th; down 40.5% since April 30th

Average: down 8.2% w/e June 14th; down 36.7% since April 30th

Conclusion

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


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Disclosure: None

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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