Here’s a look at the current state of marijuana stocks in the United States and Canada.
In the U.S. nine states have legalized marijuana for recreational purposes; dozens have legalized for medical use. In Canada, the government is planning to legalize marijuana within the next several months. What impact has all this change had on the marijuana stock market?
Currently the U.S. Marijuana Index stands at 83.84. This is roughly 10% higher than the 30-day low of 75.40 which came on February 27. However, it’s also roughly 10% lower than the 30-day high of 91 on February 14.
Over the past six months, the lowest the U.S. Marijuana Index has dropped is to 46.90 on October 26 of last year. The high over the past six months was 108.90 on January 26; almost 25% higher than the current marker.
In other words the market, unsurprisingly, continues to fluctuates. There’s little reason to be pessimistic, but there’s also not a particular reason to be optimistic.
Canada Marijuana Stocks:
In Canada the market has seen much heavier fluctuation. Currently the market is at 767.08. This is well above the 30-day low of 632.27, where the index sat at the close of February 27. It’s only slightly below the 30-day high of 768.20 (February 12). When looking at the market over the past six months, however, things have changed drastically. The current total of 767.08 marks an over 250% increase from the six month low of 217.46 which came on September 11, 2017. However, despite this increase, the current total is far below the six month high of 1045.50 (January 9).
According to MarijuanaIndex.com, the U.S. and Canadian Marijuana Index tracks the leading cannabis stocks operating in the United States and Canada. Constituents of the index “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.”