WEED WORLD: Cannabis Stock Up 236 Percent
It’s news that might stun those who were young and restless during the 1960s, perhaps. New Frontier Data, and Viridian Capital Advisors — which provide marketing intelligence and investment advice to the emerging “cannabis industry” — have news. Cannabis stock grew by over 236 percent in 2016, they say.
“Cannabis stocks significantly outperformed major indexes in 2016, fueled by speculative investment based on anticipated expansion of new legal markets. In the run up to the election, stocks increased by 207.8 percent and continued to rise, even with an uncertain future under the new administration,” says Giadha Aguirre De Carcer, founder of the data firm. “While recent comments by the Trump administration did have an initial dampening effect on the market, we have seen continued growth relative whereby cannabis stocks are still outperforming other sectors.”