Cannabis Stock Report: Pot Stocks Skyrocket; Marijuana Index Records Worst Month Ever – PotNetwork (blog)

The North American Marijuana Index skyrocketed on Tuesday on as U.S. pot stock investors reveled in the news of GW Pharmaceuticals plc (Nasdaq:GWPH) Epidiolex patents. The company announced the receipt of Notices of Allowance for five new Epidiolex patent applications, all of which will be listed in the Approved Drug Products with Therapeutic Equivalence Evaluations, or the Orange Book, if and when the NDA for Epidiolex is approved. GW will own the rights to these patents until at least 2035. Giddy investors saw the Index shoot up 23.75 percent to close out the trading day at 325.23.

Cannabis stocks overall were mixed on Thursday as The United States Marijuana Index jumped 70.66 percent, while the Canadian Index fell 1.56 percent.

Meanwhile, Wall Street faltered on the news that U.S. President Donald Trump had ousted Secretary of State Rex Tillerson, opting to nominate current CIA Director Mike Pompeo in his place. Trump and Tillerson had numerous public and private battles during Tillerson’s stint as head of the State Department which reached a crescendo this past week. Markets started the day shaky before finally falling off into negative numbers as the afternoon wore on.

“There’s a lot of noise coming out of Washington over all these changes that’s causing the markets to really not focus,” said Ken Polcari, director of the NYSE floor division at O’Neil Securities in an interview with Reuters.

The Dow Jones Industrial Average fell 171.58 points, a decline of 0.68 percent, to 25,007.03.  Meanwhile, the S&P 500 dropped 0.64 percent while the Nasdaq Composite slipped 1.02 percent. A broad-based rally in Canada saw the S&P/TSX composite index climb up 42.35 points to 15,647.14

Horizons Marijuana Life Sciences ETF (HMMJ.TO) fell $0.14 per share, a decline of 0.72 percent to close the

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