January Proves To Be Big Month For Cannabis Stocks

Although we are well into February, marijuana stocks are looking back at a very strong, very successful month of January, one of the most up-and-down months to date.

Attorney General Jeff Sessions’ killing of the Cole Memorandum in early January sent the US industry stock industry into a nosedive, but there was some success to be celebrated as the month wore on. There was also a nice boost from California’s legal sales of recreational marijuana, which began on January 1st.

North American Marijuana Index,  which is a stock index that tracks the top performing cannabis stocks in the U.S. and Canada ended up with an increase of 18% in the month of January, an impressive rebound from the Sessions fallout.

On January 2nd, the United States Marijuana Index experienced its largest one-day gain of 13% but then saw the largest one-day drop of 21% after Sessions rescinded the Cole Memo, demonstrating the roller-coaster month.

GrowGeneration Corp. (GRWG), Kush Bottles (KSHB) and MariMed Inc. (MRMD) stood out from the pack, gaining more than 50%.

On the flip side, the Canadian Marijuana Index skyrocketed 49% during the first six trading days of 2018 finishing the month with a gain of 22%, while also taking it’s lumps from the Sessions’ ordeal.

Abcann Global Corporation (ABCCF), Newstrike Resources Ltd. (NWKRF), and THC Biomed Intl Ltd stand out as they gained more than 90% in the month of January, while 9 other stocks  gained more than 20% during January.

 

 

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