The Global Cannabis Stock Index is currently 24% higher now than it was on January 2.
At the time of publication the Global Cannabis Stock Index stands at 9.96. This is a 24% increase over the 8.03 value the market held on January 2, the first business day of the year.
The current value is a 16% increase over where the market stood a year ago, and a 7% increase from six months ago.
The growing value could be attributed at least partially to the DEA’s ongoing review of marijuana as a Schedule I drug, with congressional researchers saying it’s “likely” the agency will move marijuana to Schedule III. Doing so would legalize the plant for medical use nationwide.
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.
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