Image sourceAn IntroductionAll 5 constituents in the Canadian Cannabis LPs Portfolios declined this week, by an average of 11.5%. They are now down 41.5%, on average, since Tuesday, April 30th, when the DEA announcement that it planned to follow through on the DHS recommendation that cannabis be reclassified from  a Schedule I drug to a less stringently regulated Schedule III drug was met with an enthusiastic market response. In fact, the 5 stocks are now down 15.3% from where they were, on average, 5 weeks ago (April 26th), before the announcement.Below are the details of the returns of the stocks in the munKNEE’s Canadian Cannabis LPs Portfolio, in descending order, for the week ending June 7th and the for the last 5 weeks:

  • OrganiGram (OGI): down 1.6% w/e June 7th; down 15.1% since April 26th (5 weeks)
  • Tilray (TLRY): down 1.7% w/e June 7th; down 0.6% since April 26th (5 weeks)
  • Cronos (CRON): down 6.1% w/e June 7th; down 6.1% since April 26th (5 weeks)
  • Canopy Growth (CGC): down 18.5% w/e June 7th; down 21.0% since April 26th (5 weeks)
  • Aurora (ACB): down 23.8% w/e June 7th; down 15.2% since April 26th (5 weeks)

    • Average: down 11.5% w/e June 7th; down 15.3% since April 26th (5 weeks)
  • ConclusionThe Canadian cannabis LPs may well decline even further based on historical data (see here) so the question now is how much further it will drop before stabilizing. Time will tell. Stay tuned.More By This Author:Pure Play Quantum Computing Portfolio Down 3% In May
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