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MJIC Index Conducts Quarterly Rebalancing, Adding 7 New Cannabis Companies

ACCESSWIRE

By MJIC, Inc.

LOS ANGELES, CA / ACCESSWIRE / January 22, 2018 / MJIC Inc. has completed its quarterly rebalancing of the Marijuana Index, adding seven new cannabis companies to the Canadian Marijuana Index.

The U.S. Marijuana Index and Canadian Marijuana Index track the top performing public cannabis companies operating in the United States and Canada, respectively. These indeces are combined to create the North American Marijuana Index. Each index is equal-weighted and rebalanced quarterly.

The North American Marijuana Index now has 39 constituents, with the U.S. Marijuana Index and the Canadian Marijuana Index containing 15 constituents and 24 constituents, respectively.

The minimum trading requirements for companies to join the indeces has increased since last quarter. Companies must have achieved a weighted average minimum market capitalization of $40 million USD, daily trading volume of $400,000 USD, and share price of $0.10 USD. Companies with more than $5 million USD of revenue over the prior year are exempt from the above trading requirements.

No new companies were added to the United States Marijuana Index.

Companies added to the Canadian Marijuana Index include:

  • Cannabix Technologies Inc. (BLO) (BLOZF)
  • Harvest One Cannabis. (HVST)
  • InMed Pharmaceuticals Inc. (IMLFF)
  • Invictus MD Strategies Corp. (IMH) (IVITF)
  • MYM Nutraceuticals Inc.
  • THC Biomed Intl Ltd. (THC) ( THCBF) (TFHD)
  • WeedMD, Inc. (WMD)

“The fourth quarter of 2017 saw significant gains in both the U.S. and Canadian cannabis markets, as the North American Index increased 4% in October, 41% in November, and 61% in December. The quarter was highlighted by Constellation Brands’ $245 million CAD investment in Canopy Growth Corporation (WEED) at the end of October, and investors’ anticipation of the beginning of recreational cannabis in California starting January 1st, 2018,” said Dan Nicholls, Vice President. “Overall, the Canadian Marijuana Index increased 188% in the fourth quarter, reaching its all-time high, and the U.S. Marijuana Index increased 85%.”

About The Marijuana Index

The Marijuana Index tracks the leading cannabis and hemp stocks operating in the United States and Canada. It offers investors the tools and information they need to monitor the public markets in this growing industry. The Marijuana Index is owned and managed by MJIC, Inc. The Marijuana Index is for informational purposes only. Inclusion in the Marijuana Index is not an endorsement or recommendation for any company.

For more information, please visit www.marijuanaindex.com.

About MJIC, Inc.

MJIC, Inc., a privately held company, is a diversified holding company focused on providing distribution, media and events, and business services within the cannabis industry. MJIC works alongside some of the top businesses and industry leaders in the nation, and along with its substantial stake within the cannabis business, is quickly emerging as one of the industry’s largest businesses today.

To learn more about MJIC, Inc., please visit: www.mjic.com.

Contact

Dan Nicholls
MJIC, Inc.
dan@mjic.com
248-505-4893

SOURCE: MJIC Inc.

ReleaseID: 486559