Image Source: Unsplash
 

Introduction

As mentioned in the introduction to my article on the performance of the Canadian Cannabis LP Portfolio (see here) posted on Monday "Investors in cannabis stocks react enthusiastically to any hint of cannabis being re-scheduled from that of a Schedule I drug to a less stringently regulated Schedule III drug...[but,] unfortunately, such hope has always dissipated quickly when it is realized that such is not about to occur any time soon. That was exactly what happened last week with the realization the "news" from an anonymous DEA source the previous Friday that the rescheduling would happen by October was, in fact, an unfounded rumor. That hope was replaced with major disappointment and that drove down the prices of all the constituents in the"..American Cannabis LP Stocks Portfolio by 6.3% last week, on average.
 

The munKNEE American Cannabis MSO Portfolio

Below are how the 7 constituents in the American Cannabis MSO Portfolio performed last week, in descending order, and MTD, with any pertinent analyses and commentary:

1. Curaleaf (CURLF):
   • No change last week;
   • DOWN 19.8% MTD
   • Curaleaf Reports Relatively Flat Q2 Financial Metrics
2. Green Thumb (GTBIF):
   • DOWN 5.0% last week;
   • DOWN 5.4% MTD
   • Green Thumb Q2 Financials Reported Increased Adj. EBITDA Results
3. Trulieve Cannabis (TCNNF):
   • DOWN 5.9% last week;
   • DOWN 5.0% MTD
   • Trulieve Cannabis Q2 Financials Improved Across The Board
4. Verano (VRNOF):
   • DOWN 8.5% last week;
   • DOWN 1.5% MTD
   • Verano Announces Closing of Acquisition of Arizona and Virginia Subsidiaries of The Cannabist Company
5. Cresco Labs (CRLBF):
   • DOWN 10.0% last week;
   • UP 12.5% MTD
   • Cresco Labs Q2 Financial Results Show Consistent Profitability Improvement 
6. Ayr Wellness (AYRWF):
   • DOWN 10.5% last week;
   • DOWN 12.6% MTD
   • AYR Wellness Q2 Financial Results Down Across The Board
7. TerrAscend (TSNDF):
   • DOWN 14.5% last week;
   • UP 5.0% MTD
   • TerrAscend Q2 Financial Metrics Were All Down

The American Cannabis MSO Portfolio was down 6.3% last week, is now down 5.7% MTD (but is still up 8.8% YTD.

More By This Author:

Our AI-Focused Drug Discovery Stocks Portfolio Was Up Almost 7% Last Week
Our Canadian Cannabis LP Portfolio Was Down 7% Last Week
The +$1T Mega Cap AI Portfolio; Up 29% YTD, Was Flat Last Week