The Marijuana Index(TM) was mixed last week after falling lower and then recovering towards the end of the shortened trading week.
WHITEFISH, MT / ACCESSWIRE / April 21, 2014 Top gainers last week included IMD Companies Inc. (OTCBB: ICBU), a developer of hydroponics equipment in the cannabis space, which rose nearly 22% higher, while the biggest losers included Vape Holdings Inc. (OTCBB: VAPE), a developer of vaporizer solutions in the cannabis industry, which fell just over 31% lower. The volatility in the sector appears to have stalled for a bit as traction begins to build.
Cannabis regulatory initiatives also continued to gain ground last week. Many states have successfully adopted CBD-related laws in response to the outcry from epileptic patients, although some of the laws have some severe restrictions. For example, Wisconsin’s recently passed law requires that the CBD treatments be approved by the FDA before they can be administered by a licensed physician.
- BreedIT Completes Structuring of Cannabis Program - BreedIT Corp. (OTCBB: BRDT) completed the first step in the implementation of its partnership to breed and own unique hybrid cannabis seeds.
- Medical Marijuana Schools Continue to Pop-up in U.S. - The Institute of Medical Cannabis is preparing to open its doors in Palm Beach County, Florida as just one of many such cannabis schools in operation.
- Primco Acquires 10-Acre Property for Cannabis Operations - Primco Management Inc. (OTCBB: PMCM) entered into an agreement to acquire 10 acres to construct two 30,000 sq. ft. facilities for cannabis production.
- Colorado Angel Investors to Hold Marijuana Summit - Investment dollars are flowing into the cannabis space in both public and private markets, with the Rockies Venture Club planning a cannabis summit in late-May 2014.
- MySkin Enters Cannabis Industry with Acquisition - MySkin Inc. (OTCBB: MYSK) announced the acquisition of cannabis-related intellectual property rights and technology from three experienced executives in the space.
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What to Watch This Week
The cannabis sector’s volatility has been on the decline over the past week, after actions by the SEC prompted some big declines. Looking forward, investors should watch for ongoing improvements in volatility as the industry matures. Companies developing CBD-related products could also be in play given the rapidly improving regulatory environment surrounding those products in many states.
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