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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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.

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