Marijuana Index up big, hits a new record
The Marijuana Index is a measure of all of the investing done in marijuana in the US and Canada, and not too surprisingly, the index has hit a new high. It recently closed at 174.82, which is as high as the index has ever been, and though the biggest performers in the index were only penny stocks, there's a clear trend upwards here, as much as 54% in the last 30 days.
While it is good news for investors and a solid indicator that the marijuana business is on the rise, again, it's not all that surprising. Companies have been investing more and more in the industry as the audience grows, and as legalization continues, there are only going to be more marijuana product customers around. While it's cool to see the index at an all-time high, it's hard to believe that it's not going to just keep on rising for a while. Of course, there's no guarantee of that (that's stocks and bonds for you) but the industry certainly seems to be heading into a growth phase.