An IntroductionFive of the 7 constituents in our American Cannabis MSO Portfolio went up 4.9%, on average, during the week ending June 21st as compared to all 7 going down 8.2% the previous week. That being said, however, they remain down 33.7%, on average, from their prices on April 30th when the DEA announced that it planned to follow through on the DHS recommendation that cannabis be reclassified from that of a Schedule I drug to a less stringently regulated Schedule III drug.Back in September the Portfolio soared 122% within 3 weeks of the initial re-classification announcement only to retreat by the end of October to below what it had been when the reclassification was initially recommended and such a steep decline could be happening again. Below are the details of the returns of the stocks in the American Cannabis MSOs Portfolio by constituent, in descending order, for the week ending June 21st and since the April 30th peak:
- Trulieve Announces Opening of 200th Dispensary
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- Verano Expands Florida Retail Footprint to 77 Dispensaries Statewide
Average: up 4.9% w/e June 21st; down 33.7% since April 30thConclusionThe American Cannabis MSOs Portfolio may well have further to decline based on historical data, so the question now is how much further could it drop before stabilizing. Time will tell. Stay tuned.More By This Author:Aurora Cannabis Q4 Financials Continue To Disappoint: Stock Declines
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