The Global Cannabis Stock Index has seen a significant increase over the past 90 days.
At the time of publication the Global Cannabis Stock Index stands at 9.06. This marks a 30.7% increase over where the market stood 90 days ago, when it was at 6.93. The high point over the past 30 days came on Thursday, January 25, with the market at 9.13.
The slow but steady increase over the past few moths may be related to the fact that the US Department of Health and Human Services (HHS) recently confirmed that they’re in talks with the Drug Enforcement Administration (DEA) regarding the potential rescheduling of marijuana. HHS is recommending that marijuana be moved to Schedule III, a move that would legalize medical marijuana for prescription use across the United States.
The Global Cannabis Stock Index, launched in 2013, represents the overall publicly-traded market for the medical and legal marijuana sector since 2013. To be included in the Index each stock must have an average daily trading value in excess of $500k with a minimum price of at least $0.50 (10-day average).
Non-U.S. companies must have a U.S. listing in order to be included. The dollar-volume threshold for non-U.S. companies includes both U.S. and non-U.S. volume, but there is an additional requirement that the daily average U.S. dollar-volume be in excess of $300K.
Although the current market value is a 30% increase over where the market stood 90 days ago, it remains 21% less than the high over the past six months of 11.50, which the market reached on September 11.
