Image source

A week ago today the U.S. Department of Health & Human Services recommended to the Drug Enforcement Administration that they reclassify marijuana's drug status to that of a Schedule III (i.e. lower-risk) substance based on a recent Food and Drug Administration review. If the recommendation is implemented it would substantially ease banking requirements for MSO companies and allow major U.S. stock exchanges to list MSOs on their exchanges and potentially allow foreign companies to begin selling their products in the United States. Investors responded enthusiastically with a 39% jump in the industry's average stock price last week and a 44% increase in the average stock price of the industry's 7 largest multi-state operators ( MSOs) as tracked in munKNEE's American Cannabis MSO Index and the upward trend has continued this week advancing 15.2% yesterday.

Below are the changes in the stock prices of the 7 constituents yesterday in descending order of performance:

1. Columbia Care (CCHWF): UP 27.7%
2. Cresco Labs (CRLBF): UP 25.3%
3. Verano Holdings (VRNOF): UP 21.3%
4. Curaleaf Holdings (CURLF): UP 14.6%
5. Green Thumb (GTBIF): UP 13.6%
6. Trulieve Cannabis (TCNNF): UP 11.6%
7. TerrAscend Corp. (TSNDF): UP 9.7%

The average increase in our American Cannabis MSO Index yesterday was 15.2% and the Pure U.S. Cannabis ETF (MSOS) was UP 18.6%.

More By This Author:

Now Is The Time To Bet On AI - Here's Why; Here's Where; Here's How
6 Largest Psychedelic Compound-Based R & D Stocks Up 4%, On Average, Last Week
Canadian Cannabis LPs Up 20% Last Week - Here's Why