With continuing uncertainty over how the Trump Administration will handle the conflict between state and federal cannabis laws, marijuana stocks continue to drop.
The U.S. Marijuana Index dropped to 61.02 at the close of today’s market. This marks the lowest the index has been since October 2nd of last year, when the market was at 57.93.
The market’s current value is a 44% decrease from the market’s high over the past year of 110, which came on October 31st; this was just eight days prior to the presidential election, and at a time when most polls showed Hillary Clinton as the front-runner. The highest the market has ever been is 126.35, over twice what it is currently; this number was reached at the close of the market on January 16th, 2015.
According to MarijuanaIndex.com: “The U.S. Marijuana Index tracks the leading cannabis stocks operating in the United States. Constituents must have a business strategy focused on the marijuana or hemp industry, and are required to meet our minimum trading criteria. The Index is equal-weighted and rebalanced quarterly.”