A healthy day of trading for Canadian cannabis stocks led the North American Marijuana Index to gain several points over Monday’s 169.07 close. The Index as a whole fared slightly well on Tuesday despite overall market losses on both sides of the border. Even with cannabis stocks in the U.S. remaining flat, the Index grew to 173.50, a gain of over two-and-a-half percent. Trading was bumpy today, with early morning turbulence giving the Index its highest peaks and valleys. The North American Marijuana Index hit an early morning high of 174, and a low of 171.58 shortly before lunchtime.
United States Index
The United States Marijuana Index held steady on Tuesday, a day that saw the Dow Jones Industrial Average drop over 100 points. Cannabis stocks held relatively stable considering the day’s overall market decline, with the Index closing at 63.46. It was a minor loss compared to Monday’s close of 63.92, but some experts believe investors still have reason to be excited. Contrary to yesterday’s Index report, some feel that the GOP tax bill could be a boon for cannabis stocks. The Index had a busy morning, hitting a high of 65 and a low of 63.11 early in the trading day.
Cannabis stocks in Canada bounced back after a rough few days, with a late day surge sending the Index soaring. The Index beat expectations on Tuesday following a 53.35 point drop for the S&P/TSX composite index. After closing at 418.32 on Monday, The Canadian Marijuana Index closed at 439.20 on Tuesday for an almost five percent gain. After an early morning low of 430.77, the Index surged throughout the afternoon, reaching its peak at the close of trading on Tuesday.
Winners and Losers
Aphria Inc. (TSX:APH) (OTC:APHQF) rose 16.25 percent today on the news of their