Cannabis Stocks Struggle as Marijuana Index Slows On Tax Reform – PotNetwork (blog)

The North American Marijuana Index saw minimal gains today as the markets struggled following the passage of the Senate’s tax reform bill in the U.S. The value of the dollar rose on the news of tax reform, weakening commodities and ultimately affecting the Canadian stock market. On Friday the Index closed at 167.66 and after a day of piddling ups and downs on Monday closed at 169.07 for less than a one percent gain. The Index hit a high of 170.34 and a low of 168.25.

United States Index

Friday night’s “dead-of-night” tax bill in the U.S. Senate reverberated through the market on Monday. The Dow had a record day, but the tech and cannabis sectors failed to benefit. The United States Marijuana Index closed at 63.92, a minimal gain after Friday’s 62.65. The new tax bill is a boon for big industries but less so for international companies. Friday’s bill bifurcated the market on Monday, with U.S. oriented stocks reaping the benefits and global stocks, such as tech and cannabis, facing uncertainty.

Further affecting cannabis stocks in the U.S. is Attorney General Jeff Sessions renewed “War on Marijuana,” which has left the United States Marijuana Index struggling to make significant gains in the past few weeks. The Index fell to a low of 63.14 this afternoon while reaching a high of 63.95 before the end of trading today.

Canadian Index

The tax bill sent waves across the border, causing the dollar to rise and weakening commodities. By the end of trading on Monday cannabis stocks in Canada grappled like the rest of the market, as the Canadian Marijuana Index recorded minimal gains. After a volatile week of trading, the Index closed at 417.99 on Friday. With Monday’s uncertainty, the Index posted a minimal increase, closing at 418.32. At mid-morning, the Index did hit a

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