U.S. Marijuana Stocks Reach 40-Day Low, Near Six-Month Low
U.S. marijuana stocks continue to fall.
The U.S. Marijuana Index fell to 68.21 at the close of today’s market. This is the lowest the market has been since March 14th when it was at 66.84, and is barely above the six-month low point of 64.30 on December 19th, the day of President Trump’s inauguration. The high within that 40-day period came on March 29th, when it was at 75.97.
The high for the U.S. marijuana stock index over the past six-months came on October 31st when it was at 110, over 50% higher than it is now. This was shortly prior to the election, when everyone was predicting a strong victory by then-candidate Hillary Clinton. The highest the market has ever been is 126.35, which came at the close of the market on January 16th, 2015, over two years ago.
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.”