The cannabis stock market experienced a hefty dip on Monday, after a strong showing last week that had many excited for a similar showing this week. Things didn’t go as many of us anticipated them going on Monday.
Both Wall Street and the Canadian exchange saw dips on Monday. The S&P 500 fell .7 percent on Monday to close the day at 2,853.53 and the Dow Jones Industrial Average and the Nasdaq showed similar drops as well. MJIC’s North American Marijuana Index dropped 13.48 points for a 3.83 percent loss closing at 338.86 on Monday, with the United States Marijuana Index falling .82 percent.
The Canada Index felt pains too as the S&P/TSX composite index fell 144.50 points to close out at 16,094.72 and the index falling 5.09 percent.
A number of other noteworthy drops occurred as Horizon’s Marijuana Life Sciences Index ETF dipped $0.93 per share for a 4.10 percent to close out the day at $21.76 per share and ETFMG’s Alternative Harvest ETF lost $1.01 per share, a 2.68 percent fall, to close the day at $36.64 per share.