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%.

Read moreCanadian Marijuana Stocks Rise Over 20% in Less than 3 Weeks

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

U.S. Marijuana Stocks Down 35% Since Trump Elected as President

Marijuana stocks in the United States have taken a substantial hit since Donald Trump became president.

Marijuana StocksOn November 7th, the day before the presidential election, the U.S. Marijuana Index was at 108.76. As of March 26th, that number has dropped 35% to 69.96. This is slightly higher than the 3-month low of 66.84 which came on March 14th.

The high for the U.S. Marijuana Index over the past two years came on October 31st, 2016, when it was at 110.

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U.S. Marijuana Stock Index Dropped Over 10% After Comments From Trump Press Secretary

The U.S. marijuana stock index fell over 10% after Trump’s Press Secretary Sean Spicer said he believes we’ll see “greater enforcement” of federal marijuana laws.

Marijuana Stock IndexOn Tuesday, February 21st, just two days before Spicer’s comments, the U.S. marijuana stock index was at 81.30, according to MarijuanaIndex.com. On Friday, the day after Spicer’s remarks, the index dropped to 72.80, a decrease of slightly over 10%.

As of Monday the market had a slight (and we stress slight) increase, moving up to 73.20.

Despite the recent dip, the index is still considerably higher than it was at its recent low point of 64.30, which was on December 19th, the day of Trump’s inauguration.

Read moreU.S. Marijuana Stock Index Dropped Over 10% After Comments From Trump Press Secretary