An Introduction
On 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 as just another delay in the re-classification becoming a reality, and, as a result, ALL of the constituents in our Canadian Cannabis LP Portfolio declined dramatically over the week.
By Lorimer Wilson
Our Canadian Cannabis LP Portfolio
Here’s what happened last week, in ascending order, for the 5 largest Canadian Licensed Producers and for the month of August and YTD:
- Canopy Growth (CGC):
- DOWN 16.1% last week;
- DOWN 31.4% in August;
- UP 2.0% YTD
- Tilray Brands (TLRY):
- DOWN 11.4% last week;
- DOWN 15.8% in August;
- DOWN 25.7% YTD
- Organigram (OGI):
- DOWN 8.4% last week;
- UP 10.1% in August;
- UP 41.2% YTD
- Aurora Cannabis (ACB):
- DOWN 6.6% last week;
- DOWN 1.1% in August;
- UP 23.6% YTD
- Cronos Group (CRON):
- DOWN 3.0% last week;
- DOWN 7.3% in August;
- UP 8.6% YTD
Summary
The Canadian Cannabis LP Portfolio was DOWN 9.1% last week and went DOWN 14.0% in August but is still UP 8.8% 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!
