Cannabis stocks were back in the red this week, retreating from post-election highs amid an earnings-heavy period.
Over the five trading days of the week:
- The ETFMG Alternative Harvest ETF (NYSE:MJ): lost 5.2%
- The AdvisorShares Pure Cannabis ETF (NYSE:YOLO): was down 1.5%
- The Cannabis ETF (NYSE:THCX): tumbled 4.6%
- The Amplify Seymour Cannabis ETF (NYSE:CNBS): slipped 2%
- The SPDR S&P 500 ETF Trust (NYSE:SPY) was up 2%.
As the dust settles after Election Day, marijuana regulators have taken steps to implement cannabis policy changes. According to Marijuana Moment, a group comprised of representatives from 19 states confirmed Thursday the formation of an independent organization to support the cause. The Cannabis Regulators Association (CANNRA) has, up until now, remained reserved on the issue of legalization. However, the group believes it can “inform regulatory best practices,” citing experience managing marijuana programs.
Voters across
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