Whitefish, MT / July 8, 2014 / The Marijuana Index(tm) was mixed last week, as index heavyweights GW Pharmaceuticals plc (NASDAQ:GWPH) and Medbox Inc. (MDBX) gave up some of their earlier gains towards the end of the week.
Top gainers included Cannabis Sativa Inc. (CBDS), which jumped 80% after completing its acquisition of Kush and naming former New Mexico Governor Gary Johnson as its CEO, and Easton Pharmaceuticals Inc. (EAPH), which jumped 65% after announcing that its medical marijuana facility build-out was nearing completion per Health Canada's guidelines prior to inspection.
Cannabis regulatory initiatives continued to gain ground, although there have been some concerns that have arisen. For example, Washington State faces a number of growing pains associated with its recreational marijuana rollout, while some energy companies are expressing concerns that marijuana growers are and would continue to put a strain on the nation's energy grid if left unchecked.
- Marijuana Reclassification Could Benefit Cannabis Therapy – CannabisFN takes a look at how the FDA's reclassification of marijuana could benefit companies like Cannabis Therapy Corp. (CTCO).
- Cannabis Cultivation Strains Electricity Grid – Cannabis growers are increasingly putting a strain on the nation's energy grid, which has led some utilities to propose alternatives for the industry.
- CannLabs Signs Deal with Premier Edibles Maker – CannLabs Inc. (OTC:SDSPD) recently announced a 12-month exclusive agreement to provide testing services for Dixie Elixirs and Edibles, one of the largest edibles firms.
- Washington Cannabis Industry Faces Growing Pains – Washington State's legalization of recreational marijuana hasn’' been quite as smooth as Colorado's as regulators face some issues implementing the law.
- DigiPath Launches Cannabis Education Program – DigiPath Inc. (OTC:DIGP) launched its new cannabis education and training division in partnership with Oak Tree Educational Partners Inc.
Exclusive Interview Series
In a recent episode of CannabisFN's Executive Interview Series, Mike Elliott sits down to talk with Supreme Pharmaceuticals' CEO David Stadnyk about the company's efforts in applying for a Canadian MMPR license and more.
CannabisFN's Mike Elliott also sat down to talk with Cannabis Technologies Inc.'s CEO Craig Schneider about the company's unique focus on cannabinoid-based drug discovery and development leveraging its proprietary platform.
What to Watch This Week
The cannabis sector was somewhat mixed last week, but many smaller companies in the space experienced strong gains. While traders may take profits off the table for some of these companies, the market for marijuana stocks continues to strongly recover from its lows made earlier this year. Regulatory initiatives could also provide an ongoing source of catalysts over the long-term.
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SOURCE: Emerging Growth LLC