Australia’s cannabis market had some important regulatory developments of its own at the end of last year.

But on a global level, all eyes have been on the huge US market as investors assess the fallout from November’s Presidential election.

Among other things, four more US states voted to legalise recreational cannabis use.

And prior to the election, Vice President-elect Kamala Harris went on the record to say that marijuana would be decriminalised at the federal level under a Biden administration.

The Democrat-controlled House of Representatives has already passed the MORE (Marijuana Opportunity Reinvestment and Expungement) Act, but it stood to face a difficult challenge to become law if Republicans still controlled the Senate.

Which made the two run-off races in the state of Georgia (held yesterday) extra crucial, with Republicans holding a slim 50-48 Senate majority.

A 50-50 Senate would give the Democrats a technical majority, given Harris holds a deciding vote.

And by the close of trade yesterday in Australia, Democrat challenger Raphael Warnock had called a victory in his Georgia Senate race.

At time of print, the other race — between Jon Ossof (D) and incumbent Senator David Perdue was deemed too close to call.

With the second race on a knife-edge, the outcome will be worth watching for cannabis investors.

While a Democrat advantage in the Senate won’t directly affect Australian pot stocks, it will mark another important development in the run of positive regulatory momentum that took place into the end of 2020.

And speaking with Stockhead in December, pro cannabis investor Mark Bernberg said US legalisation will be the main game for cannabis investors over the next 12-18 months.

Turning to the local market, ASX cannabis stocks have made a steady if unspectacular start to 2021.

Of the cohort of cannabis (and cannabis-adjacent) companies tracked by Stockhead, 10 posted a gain over the past week while 11 were unchanged, and 15 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
APH AP Hemp Ltd 0.36 9.1% -5.3% 111.8% 19,349,372
EVE EVE Investments Ltd 0.0095 5.6% -5.0% 90.0% 34,588,277
SUD Suda Pharmaceuticals 0.04 5.3% 5.3% -20.0% 15,341,795
MMJ MMJ Group Hlds Ltd 0.125 4.2% -16.7% -16.7% 28,744,248
IDT IDT Australia Ltd 0.185 2.8% -7.5% 32.1% 44,685,875
LGP Little Green Pharma 0.595 2.6% -0.8% 0.0% 47,468,086
AC8 Auscann Grp Hlgs Ltd 0.2 2.6% 29.0% -33.3% 63,409,471
THC THC Global Grp Ltd 0.24 2.1% -7.7% -36.8% 45,469,668
CAN Cann Group Ltd 0.62 0.8% -6.1% -23.0% 170,090,788
WOA Wide Open Agriculture 0.91 0.6% -13.7% 600.0% 79,979,683
ECS ECS Botanics Holding 0.04 0.0% 5.3% -23.1% 17,912,907
DTZ Dotz Nano Ltd 0.24 0.0% 0.0% 269.2% 90,331,771
ESE Esense-Lab Ltd 0.018 0.0% 0.0% 38.5% 9,180,684
LV1 Live Verdure Ltd 0.185 0.0% 0.0% 0.0% 7,405,041
YPB YPB Group Ltd 0.0025 0.0% 0.0% -50.0% 10,570,897
MDC Medlab Clinical Ltd 0.245 0.0% -7.5% -19.7% 68,520,539
MRG Murray River Grp 0.01 0.0% -9.1% -55.0% 24,263,148
RNO Rhinomed Ltd 0.16 0.0% -11.1% -23.8% 43,147,552
BOT Botanix Pharma Ltd 0.12 0.0% -14.3% 39.5% 121,642,759
AGH Althea Group 0.44 0.0% -20.0% 4.8% 111,663,393
ROO Roots Sustainable 0.02 0.0% -31.0% -39.4% 11,335,463
PAL Palla Pharma Ltd 0.75 -1.3% -8.5% -29.2% 94,460,983
MXC MGC Pharmaceuticals 0.025 -2.0% 4.2% -24.2% 44,703,258
LSH Lifespot Health Ltd 0.075 -2.6% -13.2% 157.5% 12,099,579
EOF Ecofibre Limited 1.935 -3.3% -7.0% -29.4% 287,551,128
CPH Creso Pharma Ltd 0.18 -5.3% 80.0% 50.0% 123,378,223
ZLD Zelira Therapeutics 0.087 -5.4% -2.2% 52.6% 105,493,744
CP1 Cannpal Animal 0.17 -5.6% 9.7% 47.8% 16,762,500
SCU Stemcell United Ltd 0.017 -5.6% 0.0% 21.4% 12,370,557
EXL Elixinol Global 0.17 -8.1% -29.2% -65.4% 54,838,040
BDA Bod Australia 0.43 -8.5% -34.8% 48.3% 48,679,003
IHL Incannex Healthcare 0.15 -9.1% 3.4% 143.9% 161,221,097
RGI Roto-Gro Intl Ltd 0.06 -10.4% -14.3% -47.8% 13,659,609
NTI Neurotech Intl 0.04 -11.1% 8.1% 166.7% 23,563,501
CGB Cann Global Limited 0.007 -12.5% 16.7% -53.3% 41,090,709
CAU Cronos Australia 0.11 -21.4% -29.0% -48.8% 5,835,000