BI Canada Cannabis Competitive Peers Index Soaring As California Prepares To Light Up

As the state of California readies to toke up on some marijuana, the BI Canada Cannabis Competitive Peers index is enjoying some success in preparation of the California surge on the marijuana dispensaries industry.

Canopy Growth Corp., Cronos Group Inc., and Aphria Inc. are among some of the top performers. Happy New Years, eh?

Some marijuana companies are creating multinational franchises on the heels of legalization according to RBC analyst Nik Modi.  Green House Brands North America has a joint venture in Canada with Canopy Growth and Organa Brands, which is seeking  to invest in and acquire cannabis brands in the United States.

The industry is in its “infancy” and “just getting started,” AdvisorShares Investments Managing Director and Chief Operating Officer Dan Ahrens said, while adding that mergers and acquisitions or “at least” joint ventures likely. Ahrens noted an overlap among the alcohol, tobacco and cannabis industries.

Canada Cannabis Competitive Peers (BINACCCP) index shows that 32 members are trading up today, with 60 of the 69-member BI Global Cannabis Competitive Peers index also showing positive trends.

Here is a look at the success of the Cannabis Stocks, courtesy of Bloomberg:

 

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