Cannabis Chart Of The Week: MSO Prices And Volumes Fail To Rally On Harris Or DEA Events
The Viridian Chart of the Week looks at the percentage changes in stock prices and average daily dollar volume from the week ended 7/19/24 to the week ended 7/26/24.
The green bars (measured on the left axis depict the percent price change from 7/19/24 to 7/26/24. The graph is arranged in increasing order of percentage price changes.
The orange bars (measured on the right axis) show the percentage change in average weekly dollar volume for the week ended 7/26/24 compared to the week ended 7/19/24.
The week had two major news stories: Joe Biden’s exit from the Presidential race and the end of the DEA comment period on rescheduling.
Most analysts, ourselves included, believed that both of these events were solidly positive for cannabis. Harris is thought to have a much better chance of beating Trump and is also considered to be a staunch cannabis advocate.
Similarly, the comment period for rescheduling ended, and reportedly, over 90% of the comments were pro-rescheduling. The industry worked its way into another Twitter firestorm over how rescheduling was on its way …