A shortened week came with no shortage of news.
In New York, Gov. Andrew Cuomo signed recreational marijuana into law on Wednesday, making the Empire State the 15th in the U.S. to legalize cannabis.
The legislation allows adults 21 and older to possess up to 3 ounces of cannabis or 24 grams of marijuana concentrates and to buy recreational cannabis from licensed retailers. The bill also permits the cultivation of up to three mature and three immature plants for personal use.
New Yorkers will be allowed to smoke marijuana publicly wherever tobacco is allowed.
On Friday, the New York State Office of Cannabis Management launched its website.
Stocks jumped following the news. Over the four trading days of this week:
- The ETFMG Alternative Harvest ETF (NYSE:MJ): gained 1.6%.
- The AdvisorShares Pure Cannabis ETF (NYSE:YOLO): advanced 3.15%.
- The AdvisorShares Pure US Cannabis ETF (NYSE:MSOS): rose 1%.
- The Cannabis ETF (NYSE:THCX): was up 2.3%.
- The Amplify Seymour Cannabis ETF (NYSE:CNBS): gained 3.3%.
- The SPDR S&P 500 ETF Trust (NYSE:SPY) was up 1.7%.
Companies currently operating in the New York medical cannabis market were also spiking. Among the companies doing business in the state are Columbia Care Inc. (OTCQX:CCHWF), Curaleaf Hldgs Inc. (OTCQX:CURLF), MedMen Enterprises Inc. (OTCQX:MMNFF), Acreage Holdings Inc (OTCQX:ACRHF) and Vireo Health International Inc. (OTCQX:VREOF).
The other big news item of the week was the merger of KushCo Holdings, Inc. (OTCQX:KSHB) and Greenlane Holdings,…
Original Author Link click here to read complete story..
A shortened week came with no shortage of news.
In New York, Gov. Andrew Cuomo signed recreational marijuana into law on Wednesday, making the Empire State the 15th in the U.S. to legalize cannabis.
The legislation allows adults 21 and older to possess up to 3 ounces of cannabis or 24 grams of marijuana concentrates and to buy recreational cannabis from licensed retailers. The bill also permits the cultivation of up to three mature and three immature plants for personal use.
New Yorkers will be allowed to smoke marijuana publicly wherever tobacco is allowed.
On Friday, the New York State Office of Cannabis Management launched its website.
Stocks jumped following the news. Over the four trading days of this week:
- The ETFMG Alternative Harvest ETF (NYSE:MJ): gained 1.6%.
- The AdvisorShares Pure Cannabis ETF (NYSE:YOLO): advanced 3.15%.
- The AdvisorShares Pure US Cannabis ETF (NYSE:MSOS): rose 1%.
- The Cannabis ETF (NYSE:THCX): was up 2.3%.
- The Amplify Seymour Cannabis ETF (NYSE:CNBS): gained 3.3%.
- The SPDR S&P 500 ETF Trust (NYSE:SPY) was up 1.7%.
Companies currently operating in the New York medical cannabis market were also spiking. Among the companies doing business in the state are Columbia Care Inc. (OTCQX:CCHWF), Curaleaf Hldgs Inc. (OTCQX:CURLF), MedMen Enterprises Inc. (OTCQX:MMNFF), Acreage Holdings Inc (OTCQX:ACRHF) and Vireo Health International Inc. (OTCQX:VREOF).
The other big news item of the week was the merger of KushCo Holdings, Inc. (OTCQX:KSHB) and Greenlane Holdings,…
