WHITEFISH, MT / July 22, 2014 / The Marijuana Index(TM) moved slightly higher last week, despite a 7% drop in GW Pharmaceuticals plc (NASDAQ:GWPH) shares. Medbox Inc. (OTC:MDBX), the second largest component of the index, also fell over 5% last week.
Top gainers last week included Nuvilex Inc. (NVLX), which jumped more than 16.5% after reporting positive results in dogs for its anticancer treatment, Enertopia Corp. (ENRT), which jumped more than 13% after receiving municipal approval for its MMPR joint venture in Burlington, Ontario, and Novus Acquisition & Development Corp. (NDEV), which rose more than 12% last week.
Cannabis regulatory initiatives also gained ground last week. In a favorable swing, the U.S. House of Representatives voted to support making it easier for cannabis-related companies to access the commercial banking sector. A new survey also found that U.S. citizens are increasingly embracing both medical and recreational marijuana following the successful rollout of both programs in several states.
- CannLabs Continues to Make Tremendous Strides – CannLabs Inc. (CANL) recently announced the addition of industry experts to its leadership team, updates to its services to accommodate new Colorado MED testing requirements, and a new ticker symbol.
- West Point Starts Cannabis Breathalyzer Development – West Point Resources Inc. (CNSX:BLO) recently announced that it has selected a prototype development firm to complete the initial version of its Cannabix Marijuana Breathalyzer in partnership with its engineering team.
- A Supreme Opportunity in the Cannabis Space – CannabisFN takes a look at Supreme Pharmaceuticals Inc. (OTC:SPRWF) and its low-risk, high-reward strategy for obtaining licensed producer status from Health Canada under the country’s new MMPR framework introduced this year.
- House Votes to Allow Marijuana-Related Banking – The U.S. House of Representatives voted 236-186 in support of making it easier for cannabis-related businesses to work with commercial banks, a problem that has caused some marijuana businesses to become criminal targets.
- Cannabis Therapy’s Multi-Pronged Approach – CannabisFN takes a look at Cannabis Therapy Inc.’s (OTC:CTCO) unique business strategy, existing hemp cultivation, and why their laboratory research could be a significant catalyst for the stock over the coming quarters.
- Capitalize on the Green Rush with DigiPath – CannabisFN takes a look at DigiPath Inc. (OTC:DIGP) and its unique and synergistic plans within the cannabis industry focusing on laboratory testing, training/education, and cannabis-related media ventures.
What to Watch This Week
The cannabis sector continues to move higher, as it recovers from its lows made earlier this year. In Canada, investors are still waiting for MMPR licensing decisions to be made for several companies, while keeping an eye on the injunction that’s keeping the country’s MMAR program alive for now. In the U.S., regulators appear to be increasingly supportive of cannabis, as state-wide experiments continue to be positive in terms of both public safety and tax revenue from cannabis.
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