An Introduction
The Canadian Cannabis LP Portfolio continues to reel from the August 26th announcement by the Drug Enforcement Administration (DEA) 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 is 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 ending September 6th.
Our Canadian Cannabis LP Portfolio
Here’s what happened this week, in descending order, for the 5 largest Canadian Licensed Producers and for the previous week:
- Tilray Brands (TLRY):
- DOWN 5.3% w/e Sept. 6th
- DOWN 11.4% w/e August 30th
- Organigram (OGI):
- DOWN 5.4% w/e Sept. 6th
- DOWN 8.4% w/e August 30th
- Cronos Group (CRON):
- DOWN 5.7% w/e Sept. 6th
- DOWN 3.0% w/e August 30th
- Aurora Cannabis (ACB):
- DOWN 11.0% w/e Sept. 6th
- DOWN 6.6% w/e August 30th
- Canopy Growth (CGC):
- DOWN 14.0% w/e Sept. 6th
- DOWN 16.1% w/e August 30th
Summary
The Canadian Cannabis LP Portfolio went DOWN 10.0% w/e Sept. 6th on top of a 9.1% decline the previous week, and is now DOWN 2.1% YTD.