WHITEFISH, MT / ACCESSWIRE / August 19, 2014 / The Marijuana Index(TM) moved marginally higher last week, driven by a 7.71% rise in GW Pharmaceuticals plc (NASDAQ: GWPH) shares, which was partially offset by a 15.3% drop in Medbox Inc. (OTC: MDBX) shares.
Top gainers last week included Canna Business Group Inc. (OTC: CBGI), which rose 18.2% amid no new news, Easton Pharmaceuticals Inc. (OTC: EAPH), which rose 17.4% after a site visit and accelerated timetable for launching its OTC products, and Novus Acquisition & Development Corp. (OTC: NDEV), which rose 14.3% amid no new news, while several others within the industry experienced smaller gains.
Cannabis regulatory initiatives experienced a mixed week. Colorado and Washington State reported increases in tourism associated with their legalization of recreational marijuana. However, California’s historic medical marijuana bill – Senate Bill 1262 – failed to pass through the State Assembly. Lobbyists cited the $20 million price tag for state cannabis businesses as a key barrier to passing the bill.
- Cannabis Therapy Makes Move into Animal Health – Cannabis Therapy Corp. (OTC: CTCO) recently signed an exclusive agreement to distribute the Canna-Pet™ brand of CBD-containing pet products.
- Cannabis Crypto Currencies Gain Traction – Cannabis Coin is a Bitcoin-based P2P digital currency designed for the cannabis industry, with changes that allow everyone to get involved in the “harvesting” of coins.
- Blue Line Protection Targets Cannabis B2B Market – Blue Line Protection Group Inc. (OTC: BLPG) recently announced plans to launch a free e-commerce website designed the for lawful cannabis industry.
- Canadians Support Legalization, Not in a Hurry – The majority of Canadians support the legalization of marijuana, but they don’t see the matter as a pressing issue, according to a new poll by Angus Reid Global.
- Organigram Becomes the Next MMPR Producer – Organigram Inc. (TSX-V: OGI) became the next publicly traded MMPR licensed producer, following a reverse merger transaction, focused on organic products.
- Lawmakers Push for Legalization in Costa Rica – Costa Rica could become the first country in Central America to legalize medical marijuana and generate millions for public institutions if PAC lawmaker Marvin Atencio gets his way.
Organigram Inc. (TSX-V: OGI) CEO Denis Arsenault sits down with CannabisFN’s Mike Elliott to discuss the company and its value proposition within the industry.
Watch the Exclusive Interview on CFN
What to Watch This Week
The cannabis sector moved higher last week, as investors keep a close eye on various regulatory initiatives. In November, a number of states will vote to legalize both recreational and medical marijuana. Several companies have also continued to make tremendous strides towards generating tangible revenue.
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SOURCE: Emerging Growth LLC