The Global Cannabis Stock Index has seen a large increase in value over the past six months.
The Index ended the day valued at 10.49, the first time it’s been above 10 since September. The current value marks a 51% increase over the value from exactly five months ago on October 27, when the market was valued at 6.93.
In just the past 30 days the market has seen an increase in value of roughly 20%.
Despite the recent rise in value, the current market remains 8% lower than the 12-month high of 11.50 set on September 11, 2023, and remains far lower than the three-year high of 63.66 set in April, 2021.
The DEA’s ongoing review of marijuana scheduling status is a potential factor attributing to the market’s recent increase in value. If the DEA follows the recommendation of the Department of Health and Human Services and reschedules marijuana to Schedule III, it would legalize marijuana for prescription use across the US.
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.
