Unless you’ve been living under an (ASX small cap) rock, you’d know that local pot stocks have been up and about lately.

After the long (cold) cannabis winter of 2019, the sector didn’t escape the disruption caused by COVID-19 at the start of this year.

But along with new product developments, investors also appear to the responding to a convergence of regulatory tailwinds as the cannabis industry continues to mature.

The big news last week came from the United Nations, which formally removed cannabis from its Schedule IV classification where it had been grouped in with drugs such as cocaine and heroin.

Local markets reacted to the decision, as nine ASX cannabis stocks posted double-digit daily gains on the day of the announcement.

The sector got another boost this week, after the US House of Representatives to remove marijuana from the Controlled Substances Act — effectively decriminalising cannabis at the federal level.

The bill is unlikely to get through the Republican-controlled Senate, but that didn’t stop cannabis companies from outperforming the market with more big gains on Monday.

Locally, analysts are watching closely for updates from the Therapeutic Goods Administration (TGA), after the federal health regulator postponed its key ruling on pharmacy distribution for low-dose CBD to December (date unspecified).

And last week, a study by the University of Sydney’s Lambert Initative showed that cannabidiol (CBD), when prescribed without THC, doesn’t affect people ability to drive.

All in all, last week marked one of the best for the local sector in recent memory.

Of the 36 pot stocks tracked by Stockhead, 27 gained ground and 21 of those posted a double-digit return. Another five stocks traded flat and just three lost ground.

Below is a summary of the latest weekly, monthly and annual price performance for ASX-listed cannabis stocks:

Scroll or swipe to reveal table. Click headings to sort.

Code Name Price ($) 1W % Ret 1M % Ret 1Y % Ret Market Cap
CPH Creso Pharma Ltd 0.41 720% 1477% 193% $161.8M
SCU Stemcell United Ltd 0.041 156% 141% 193% $15.4M
NTI Neurotech Intl 0.061 110% 165% 281% $27.5M
CGB Cann Global Ltd 0.012 100% 140% 0% $23.7M
AC8 Auscann Grp Hlgs Ltd 0.245 81% 75% 29% $76.1M
RGI Roto-Gro Intl Ltd 0.098 69% 139% -35% $15.7M
MXC MGC Pharmaceuticals 0.035 67% 59% 6% $46.2M
ECS ECS Botanics Holding 0.06 54% 131% 30% $21.5M
CP1 Cannpal Animal 0.205 52% 95% 58% $18.6M
CAU Cronos Australia 0.175 46% 130% -26% $7.5M
EXL Elixinol Global 0.27 42% 86% -64% $63.8M
CAN Cann Group Ltd 0.72 41% 125% 57% $183.6M
MMJ MMJ Group Hlds Ltd 0.175 40% 67% 13% $37.9M
ZLD Zelira Therapeutics 0.11 36% 53% 75% $112.6M
YPB YPB Group Ltd 0.0025 25% 25% -58% $10.6M
ROO Roots Sustainable 0.027 23% 42% -4% $9.6M
APH AP Hemp Ltd 0.415 22% 113% 144% $21.0M
THC THC Global Grp Ltd 0.29 21% 38% -26% $52.6M
IDT IDT Australia Ltd 0.22 19% 33% 63% $47.7M
EOF Ecofibre Limited 2.16 19% 31% -29% $318.5M
IHL Incannex Healthcare 0.165 18% 96% 146% $178.9M
MDC Medlab Clinical Ltd 0.275 10% 41% -20% $72.7M
BDA Bod Australia 0.655 9% 34% 147% $59.8M
EN1 Engage:Bdr Limited 0.0065 8% 8% -73% $12.9M
LSH Lifespot Health Ltd 0.086 5% 30% 153% $10.7M
LGP Little Green Pharma 0.62 3% 53% 0% $48.1M
AGH Althea Group 0.53 3% 31% 51% $128.4M
SUD Suda Pharmaceuticals 0.039 3% 0% -30% $11.7M
DTZ Dotz Nano Ltd 0.24 0% 0% 500% $90.3M
ESE Esense-Lab Ltd 0.018 0% 0% 64% $9.2M
EVE EVE Investments Ltd 0.01 0% 11% 67% $38.4M
MRG Murray River Grp 0.01 0% -9% -55% $22.1M
PAL Palla Pharma Ltd 0.8 0% 13% -2% $100.1M
BOT Botanix Pharma Ltd 0.135 -4% 48% 45% $131.3M
WOA Wide Open Agricultur 1.05 -9% 15% 624% $97.7M
RNO Rhinomed Ltd 0.15 -14% -14% -25% $38.1M

The standout performer over the past week was Creso Pharma (ASX:CPH), which has posted torrid gains over the past week on average daily trading volumes of more than 200 million (October average: ~30m).

While it flagged the positive regulatory developments, Creso also had consistent news flow on the product side as it booked new purchase orders in the European Union and Canada.

A number of other big gainers moved higher without much news on the broader tailwinds.

While yesterday, Cann Global (ASX:CGB) rocketed after announcing it had raised $3.75m (before costs) in a share placement to sophisticated investors at 0.5c per share.

The company said it will use the funds to clear debt, including “outstanding convertible note liabilities”. CGB came out of a five-day trading halt to close 100 per cent higher at 1.2c.