Cannabis Stock Report: Marijuana Index Gains 18 Percent, Green Market Report Launches Index, Evolve ETF Begins … – PotNetwork (blog)

January proved a volatile month for cannabis stocks across the sector, with U.S. Attorney General Jeff Sessions rescinding federal protections for state-level legalization and a cryptocurrency crash that led FOMO investors to rattle the marijuana markets. Still, despite mad money men and their cries of market speculation The North American Marijuana Index reported an 18 percent increase in January.

Sessions’ announcement sent the market into a slight panic in early January, but investors quickly bounced back as industry insiders took to the press to bring a sense of calm to their shareholders. Meanwhile, the opening of California’s adult-use market never really had a chance to take a foothold in the market, stymied by the Sessions’ announcement only four days into the new year. A quick bounce led to a rocky few weeks that many attributed to a pot stock correction.

(c) 2018 The Marijuana Index 

The United States Marijuana Index followed this same pattern, gaining 13 percent on January 2, losing 21 percent following Sessions’ announcement, and climbing 11 percent again the following day. Wall Street had a relatively prosperous month, unaware of the storm to hit in February.

(c) 2018 The Marijuana Index

Meanwhile, the Canadian Marijuana Index rallied 22 percent in January as the country prepared for full adult-use legalization this summer – that market too, unaware at the time that those plans would later be impeded. Abcann Global Corporation (TSXV:ABCN), Newstrike Resources Ltd. (TSXV:HIP), and THC Biomed Intl Ltd. (CSE:THC) each gained more than 90 percent for the month.

A New Kind Of Index

In January Benzinga reporter Javier Hasse broke the news of a new Index to make its way on the scene, The Green Market Report Index. Based on market cap, revenues, and operational standards, the new Index includes 30 publicly traded marijuana companies.

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