Canadian Marijuana Stocks Drop 26% in Less than Three Weeks

Canada marijuana stocks are on the decline.

On April 10th the Canadian Marijuana Index reached 359.19, the highest it’s ever been. This was thanks in large part to a single-day jump of 12%, and a jump of roughly 20% in less than three weeks. Since that jump Canada’s marijuana stocks have been on the decline; many contribute this to the vague nature of the legalization plan put forth by the Canadian government.

At the close of today’s (April 27th) market, the Canadian Marijuana Index was at 265.77. This is a 26% decrease in just 17 days, and marks the lowest the market has been in over a month; the previous low was 261.72 on March 21st.

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Canada Marijuana Stocks Jump 12% in One Day, Now at All-Time High

After a large single-day jump, the Canadian Marijuana Stock Index is now the highest it’s ever been.

Recently we reported that the Canada Marijuana Index rose over 20% in less than three weeks; from 261.74 on March 21, to 319.90 last Friday. At the close of today’s market, the index had one of its largest single-day jumps ever, going from 319.90 to 359.19, a 12.3% increase.

355.97 marks the highest the Canada Marijuana Index has ever been (The Marijuana Index began tracking the market in January of 2015). The previous high was 348.35, which came on November 18 of last year.

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Canadian Marijuana Stocks Rise Over 20% in Less than 3 Weeks

Canadian marijuana stocks are on the rise.

Canadian Marijuana StocksFollowing anger with the government’s lack of speed in implementing marijuana legalization, the Canada Marijuana Index hit a three-month low on March 21 at 261.74, slightly higher than the previous low of 258.47 on December 21. However, since March 21, the market has seen a steady increase, including an almost 10% increase on March 27 to¬†295.41 following the announcement that marijuana will likely be legal throughout the country by July 1 of next year.

11 days later, and the market has continued to climb. The market jumped from 287.73 on April 4, to 319.90 at the close of yesterday’s (April 7) market. The total increase from March 21 to yesterday is 22%.

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Canada Marijuana Stocks Up 290% From One Year Ago

With cannabis soon to be legalized throughout Canada, the nation’s marijuana stocks continue to rise at a rapid pace.

Canada Marijuana Stocks
A chart of the Canadian Marijuana Index over the past year.

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.

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Canada Marijuana Stocks Rise Almost 10% Following Report Marijuana Will be Legal by July 1, 2018

Canada marijuana stocks had a significant increase following a report that cannabis will be legal by July of next year.

Canada Marijuana StocksThe Canada Marijuana Index was at 270.68 on March 25th, the day before the report that the country’s legal marijuana industry is expected to get underway next year. At the closing of today’s market, a day after the announcement, the index grew 9.14% to 295.41.

Although 295.41 is as high as the index has been in three weeks, it’s still well below the 3-month high of 344.57, which came on February 21st. The 3-month low came last week on March 21st, when the index dropped to 261.74.

Read moreCanada Marijuana Stocks Rise Almost 10% Following Report Marijuana Will be Legal by July 1, 2018