Monday, January 1, 2018
Marijuana stocks soaring headed into 2018
As the world rings in the New Year of 2018, marijuana investors have something extra to celebrate. According to multiple sources, including Bloomberg.com, marijuana stocks saw a big rally at the end of 2017, due in part to a huge investment by alcoholic beverage company Constellation Brands into cannabis grow company Canopy Growth.
According to Bloomberg, the Horizons Marijuana Life Sciences Index ETF, the largest marijuana-focused exchange-traded fund, has seen an increase of 74 percent since launching last April. Notable individual stocks include Delta 9 Cannabis, which surged 1,200 percent in 2017 and WeedMDInc., which was up 165 percent.
For those interested in investing in the burgeoning industry, the Motley Fool, recommends investing in Canadian marijuana stocks due to the substance's questionable legality at the federal level in the U.S. The market is more stable and the Canadian government seems to be embracing the new industry to a greater degree.
According to New Cannabis Ventures, the Canadian Cannabis LP index, which includes 27 publicly traded LPs, increased 146 percent during the year.
Posted by Editor at 9:38 AM