An Introduction
Last Monday, August 26th, the Drug Enforcement Administration (DEA) announced that it had scheduled an administrative hearing for December 2nd to consider differing expert opinions on the Justice Department’s proposal that cannabis be re-classified to that of a Schedule III drug under the Controlled Substances Act (CSA). That was seen a just another delay in that re-classification becoming a reality and, as a result, ALL of the constituents in our American Cannabis MSO Portfolio declined dramatically over the week.
By Lorimer Wilson
Our American Cannabis MSO Portfolio
Below is what happened last week, in ascending order, for the 7 largest American multi-state operators, and for the month of August and YTD:
- TerrAscend (TSNDF):
- DOWN 18.4% last week;
- DOWN 14.3% in August;
- DOWN 26.4% YTD
- Ayr Wellness (AYRWF):
- DOWN 15.4% last week;
- DOWN 26.0% in August;
- DOWN 11.7% YTD
- Cresco Labs (CRLBF):
- DOWN 15.4% last week;
- DOWN 0.6% in August;
- UP 17.8% YTD
- Verano (VRNOF):
- DOWN 15.2% last week;
- DOWN 16.0% in August;
- DOWN 27.8% YTD
- Curaleaf (CURLF):
- DOWN 10.3% last week;
- DOWN 28.0% in August;
- DOWN 30.6% YTD
- Trulieve Cannabis (TCNNF):
- DOWN 9.4% last week;
- DOWN 13.9% in August;
- UP 66.7% YTD
- Green Thumb (GTBIF):
- DOWN 8.9% last week;
- DOWN 13.9% in August;
- DOWN 14.1% YTD
Summary
The American Cannabis MSO Portfolio went DOWN 11.1% last week making a major contribution to the Portfolio going DOWN 16.0% during August and now being DOWN 3.0% YTD.
Thank you for reading the above article. I will update it weekly. Now, as a reward, here is a link to Money, Money, Money—It’s a Rich Man’s World!
