WEED WORLD: CANNABIS STOCK UP 236 PER­CENT

The Washington Times Daily - - POLITICS - BY JEN­NIFER HARPER

It’s news that might stun those who were young and rest­less dur­ing the 1960s, per­haps. New Fron­tier Data, and Virid­ian Cap­i­tal Ad­vi­sors — which pro­vide mar­ket­ing in­tel­li­gence and in­vest­ment ad­vice to the emerg­ing “cannabis in­dus­try” — have news. Cannabis stock grew by over 236 per­cent in 2016, they say.

“Cannabis stocks sig­nif­i­cantly out­per­formed ma­jor in­dexes in 2016, fu­eled by spec­u­la­tive in­vest­ment based on an­tic­i­pated ex­pan­sion of new le­gal mar­kets. In the run up to the elec­tion, stocks in­creased by 207.8 per­cent and con­tin­ued to rise, even with an un­cer­tain fu­ture un­der the new ad­min­is­tra­tion,” says Gi­adha Aguirre De Carcer, founder of the data firm. “While re­cent com­ments by the Trump ad­min­is­tra­tion did have an ini­tial damp­en­ing ef­fect on the mar­ket, we have seen con­tin­ued growth rel­a­tive whereby cannabis stocks are still out­per­form­ing other sec­tors.”

It ap­pears to be a com­pli­cated mar­ket­place, though. Fed­eral law af­ter 1956 car­ried a min­i­mum sen­tence of two to 10 years for first-time of­fend­ers, with a fine of up to $20,000 — this ac­cord­ing to a PBS time­line of Amer­i­can mar­i­juana use. It re­mains against fed­eral law in most states to grow, sell, pos­sess or use mar­i­juana. Twenty-eight states and the Dis­trict of Columbia al­low the sale of med­i­cal mar­i­juana, how­ever, and seven states and the Dis­trict have recre­ational leg­is­la­tion in place.

Nev­er­the­less, the an­a­lysts say there’s ro­bust po­ten­tial in cannabis-re­lated busi­nesses “that touch the plant” — and in an­cil­lary con­sult­ing ser­vices aimed at in­vestors and en­trepreneurs ea­ger to “seek ad­vice about how to nav­i­gate cannabis reg­u­la­tory en­vi­ron­ments, to es­tab­lish busi­ness op­er­a­tions, to shape reg­u­la­tory pol­icy, and to in­flu­ence po­lit­i­cal sup­port.”

Mean­while, for­mer Min­nesota Gov. Jesse Ven­tura — au­thor of the new book “Mar­i­juana Man­i­festo” — will de­liver a keynote ad­dress at “Cannabis World Congress & Busi­ness Ex­po­si­tion” in New York City in mid­month, an event or­ga­nized by the In­ter­na­tional Cannabis As­so­ci­a­tion trade group. The expo also fea­tures po­lit­i­cal strate­gists Roger Stone and the Rev. Al Sharp­ton.

“I want to see cannabis le­gal­ized in all 50 states within my life­time, and I will do all I can to help des­tig­ma­tize it,” Mr. Ven­tura says. “Aside from be­ing an in­valu­able med­i­cal re­source for many Amer­i­cans, cannabis is about job cre­ation.”

AS­SO­CI­ATED PRESS

Ac­cord­ing to data from New Fron­tier Data and Virid­ian Cap­i­tal Adi­v­sors, cannabis stock grew by over 236 per­cent in 2016.

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