If, and when, the recommendation by the U.S. Department of Health & Human Services to reclassify marijuana's drug status to that of a Schedule III (i.e. lower-risk) substance is implemented it would, among other things,  potentially allow foreign companies to begin selling their products in the United States. That has had a significant affect on the prices of Canadian cannabis companies many of which are expected to expand into the United States if, and when, federal legalization is realized there jumping 17% last week, on average, and resulting in a 20% increase in the average stock price of Canada's 5 largest licensed producers (LPs) as tracked in munKNEE's Canadian Cannabis LP Index). That positive sentiment, albeit diminished, continued this week going up another 5%, on average, overall, and up 10%, on average, for the constituents of the Index.

Below are the changes in the stock prices of the 5 constituents in the Index this week in descending order of performance, last week and YTD:

1. Canopy Growth (CGC): UP 69.1% this week; UP 41.0% last week; DOWN 59.0% YTD 
   • Canopy Growth struck a deal in 2019 to acquire US-based Acreage Holdings (ACRHF/ACRDF) if cannabis production and sale became federally legal in the U.S. and established a U.S.-domiciled holding company, Canopy USA, to capitalize on any such reform. The abovementioned potential reclassification is a promising development for Canopy Growth as it would make the company profitable hence the continued out-sized appreciation in its stock price. 
2. Aurora (ACB): UP 12.8% this week; UP 6.8% last week; DOWN 40.4% YTD
3. Cronos (CRON): UP 11.7% this week; UP 16.6% last week; DOWN 12.7% YTD
4. Tilray (TLRY): UP 10.0% this week; UP 27.8% last week; UP 13.1% YTD  
5. OrganiGram (OGI): UP 1.9% this week; UP 10.8% last week; DOWN 49.7% YTD 

Summary

1. The munKNEE Canadian Cannabis LPs Index is UP 9.7% this week on top of a 20.8% last week but still remains DOWN 28.1% YTD.

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