With cannabis soon to be legalized throughout Canada, the nation’s marijuana stocks continue to rise at a rapid pace.
The Canadian Marijuana Stock Index has risen nearly 300% in just a one-year period, an incredible increase that is due in no small part to the country stepping towards the establishment of a legal marijuana industry; according to a recent report, marijuana should be legal throughout the country by July of next year.
Exactly one year ago, on March 28, 2016, the Canadian Marijuana Stock Index was at 74.85. Now, at the end of today’s (March 28, 2017) market, the index is at 291.94, a 290% increase.
The 74.85 registered on March 28, 2016, was somewhere between the previous year’s high (108.82 on November 4, 2015) and low (54.03 on September 2, 2015).
During the same period (March 28, 2016 to March 28, 2017) the U.S. Marijuana Index also saw an increase, but a much smaller one (53 to 73.71, a 39% increase).
The Canadian Marijuana Index “tracks the leading cannabis stocks operating in Canada”. Constituents must “have a business strategy focused on the marijuana or hemp industry”, and are also “required to meet our minimum trading criteria. The Index is “equal-weighted and rebalanced quarterly”.
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