WHITEFISH, MT / July 28, 2014 / The Marijuana Index(TM) moved lower last week after a modest 1.6% rise in bellwether GW Pharmaceuticals plc (NASDAQ:GWPH) was offset by a significant 4.9% drop in MedBox Inc. (MDBX) shares.
Top gainers last week included Novus Acquisition & Development Corp. (NDEV), which jumped 45% after announcing that its MedPlan was approved in Arizona and Vermont, Terra Tech Corp. (TRTC), which jumped 25% after announcing new Edible Gardens retail outlets, and Surna Inc. (SRNA), which jumped 9% late during Friday’s session on no new news.
Cannabis regulatory initiatives also made headway last week, with the announcement that Oregonians would get to vote on recreational legalization in November and a proposed amendment to the Brings Jobs Home Act that would make state medical marijuana programs legal on a federal level. While many things remain uncertain, the moves represent progress in the right direction.
- A Supreme Bet on the Cannabis Sector – CannabisFN profiles Supreme Pharmaceuticals Inc. (OTC:SPRWF) and become a leading licensed producer of cannabis under Canada’s newly implemented MMPR program.
- Why Florida Could Become an MMJ Battleground – Florida’s upcoming elections will determine whether or not the state becomes one of the few southern U.S. states to adopt less restrictive MMJ policies.
- DigiPath Raises $8.2M to Capitalize on Cannabis – DigiPath Inc. (OTC:DIGP) recently announced plans to enter the cannabis testing and education industries, as well as a new cannabis media venture.
- Oregon to Vote on Recreational Legalization in Fall – Oregonians will get to decide whether or not to legalize recreational cannabis and join the ranks of Colorado and Washington State in doing so this fall.
- Rand Paul Moves to Federally Legalize State Programs – Senator Rand Paul introduced a measure to federally legalize state medical marijuana programs in an amendment to the Bring Jobs Home Act.
- Cheryl Shuman Discusses CBD Benefits on CTV Interview – Medical Marijuana advocate Cheryl Shuman discussed CBD benefits and Cannabis Technologies Inc. (OTC:CANLF) in a recent Canadian TV interview.
Exclusive Executive Interview
CannabisFN’s Dan Wise speaks to Agritek Holdings Inc. (OTC:AGTK) CEO Michael Friedman about the company’s plans to become a leader in compassionate care technologies for the medical marijuana industry. Agritek provides real estate management and a health and wellness product line, including its Mont Blunt(TM) brand of vaporizers and accessories at www.montblunt.com.
What to Watch This Week
The cannabis sector moved lower last week as investors took some profits off the table, but the long-term legalization trends remain in place. With several U.S. states putting legalization to a vote in November, companies operating in the space could see a big catalyst towards the end of the year. Many companies also continue to make progress in executing their business plans and bringing products and services to a rapidly growing multi-billion dollar U.S. industry.
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SOURCE: Emerging Growth LLC
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