5 Weed Stocks To Watch In 2018 – Benzinga

2017 had a bullish tone, as assets across categories shone the brightest, although cryptocurrency could be singled out as the standout performer. Marijuana stocks also joined the party, as reflected by the 18.5-percent advance by the U.S. Marijuana Index.

Momentum Extending Into The New Year

The U.S. Marijuana Index has rallied further in early 2018, adding 7.3 percent despite negative headlines such as movement by Attorney General Jeff Sessions on federal marijuana policy.

Spending on legal cannabis in North America is estimated to have grown 33 percent in 2017 to $9.7 billion, according to the fifth edition of the “The State of Legal Marijuana Markets” report by Arcview Market Research/BDS Analytics.

Spending is expected to grow at a 28 percent CAGR, hitting $24.5 billion in 2021.

Related Link: How to Invest In Marijuana Stocks

Sessions’ Threat To The Marijuana Industry

Attorney General Jeff Sessions dropped a bombshell by rescinding the “Cole Memo” Jan. 4. 

The memo, drafted in August 2013 by then-Deputy Attorney General James Cole during former President Barack Obama’s tenure, prevented federal prosecution of state-licensed cannabis businesses.

The industry as well as the general public apparently haven’t taken the move as a serious threat. New Hampshire and Vermont are continuing their legislative route to legalizing pot, while California, which already recognizes medical marijuana, went ahead with legalized recreational marijuana on schedule on Jan. 1.

The Fed still considers marijuana as a Schedule I substance, treating it on par with heroin and LSD.

About 58 percent of American voters support marijuana legalization, with 70 percent opposed to a federal clampdown, according to a VICE report on a Quinnipac University poll. 

The U.S. Legalization Map 

California’s shift to recreational marijuana follows Colorado, Washington, Oregon, Alaska and Nevada. 

Massachusetts and Maine are the latest states to join. 

California’s pot sales

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TSX flat as gold miners weigh, financials and pot stocks rise – Nasdaq

Reuters

TORONTO, Jan 17 (Reuters) – Canada’s main stock index opened flat on Wednesday, with falls among gold miners offset by gains for financial stocks and marijuana producers.

The Toronto Stock Exchange’sS&P/TSX composite index was up 9.26 points, or 0.06 percent, at 16,308.14 shortly after the open.

TORONTO, Jan 17 (Reuters) – Canada’s main stock index opened flat on Wednesday, with falls among gold miners offset by gains for financial stocks and marijuana producers.

The Toronto Stock Exchange’sS&P/TSX composite index was up 9.26 points, or 0.06 percent, at 16,308.14 shortly after the open.

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CANADA STOCKS-TSX flat as gold miners weigh, financials and pot stocks rise – Reuters

TORONTO, Jan 17 (Reuters) – Canada’s main stock index opened flat on Wednesday, with falls among gold miners offset by gains for financial stocks and marijuana producers.

The Toronto Stock Exchange’s S&P/TSX composite index was up 9.26 points, or 0.06 percent, at 16,308.14 shortly after the open. (Reporting by Alastair Sharp)

Our Standards:The Thomson Reuters Trust Principles.

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TSX slips as resource stocks retreat, pot stocks gain – Nasdaq

Reuters

TORONTO, Jan 16 (Reuters) – Canada’s main stock index edged lower in morning trading on Tuesday as gold miners weighed down heavyweight resource stocks amid a commodity price retreat, even as marijuana producers extended a recent rally.

* At 10:03 a.m. EST (1503 GMT), the Toronto Stock Exchange’sS&P/TSX composite index was down 22.84 points, or 0.14 percent, at 16,348.97. Only four of the index’s 10 main groups were in negative territory, but two of those – energy and materials – play an influential role overall.

* The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.7 percent while the energy group retreated 0.5 percent.

* Gold slipped from a four-month high hit on Monday as the U.S. dollar clawed back some lost ground, while copper and nickel hit multi-week lows. Crude prices also pulled back after recent gains.

* Goldcorp Inc declined 3.2 percent to C$18.49 after lowering its estimate for all-in sustaining costs.

* On the positive side of the ledger, marijuana stocks extend Monday’s gains, with Aurora Cannabis up 9.5 percent to C$12.59, Canopy Growth Corp up 4.1 percent to C$38 and Aphria Inc adding 5.5 percent to C$22.90.

* BlackBerry Ltd also added to Monday’s gains, advancing 1.2 percent to C$17.69, after launching new cybersecurity software which identifies vulnerabilities in programs used in self-driving cars.

* Yellow Pages Ltd advanced 1.2 percent to C$8.31 after the company once well known for its thick-print directories said it would fire about 500 employees to cut costs and turn around its digital advertising platform.

* SSR Mining Inc jumped 8.6 percent to C$11.1 after the precious metal miner reported fourth-quarter earnings and provided guidance for 2018.

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CANADA STOCKS-TSX slips as materials stocks weigh, pot stocks rise – Reuters

TORONTO, Jan 16 (Reuters) – Canada’s main stock index edged lower in early trade on Tuesday, as gold miners and other materials stocks weighed while marijuana producers extended their latest rally.

The Toronto Stock Exchange’s S&P/TSX composite index was down 33.34 points, or 0.2 percent, at 16,338.47 shortly after the open. (Reporting by Alastair Sharp Editing by Chizu Nomiyama)

Our Standards:The Thomson Reuters Trust Principles.

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