The Week In Cannabis: Stocks Down, More Celebrity Moves, Earnings And Policy NewsPosted by MMP News AuthorOn October 31, 2020

This was a tough week for cannabis stocks, with all major ETFs closing in the red. Over the five trading days of the week:

• The ETFMG Alternative Harvest ETF (NYSE:MJ): fell 7.5%
• The AdvisorShares Pure Cannabis ETF (NYSE:YOLO): was down 6.7%
• The Cannabis ETF (NYSE:THCX): lost 9.2%
• The Amplify Seymour Cannabis ETF (NYSE:CNBS): tumbled 5.7%
• The SPDR S&P 500 ETF Trust (NYSE:SPY) was down 6.35%.

Rules & Regs

Councilman James Tate announced a proposed amendment to the Detroit City Code to allow adult-use recreational marijuana licensing in Detroit. The ordinance, which gives significant preference to long time Detroit residents in terms of the number of licenses issued, discounts on land and other incentives, will allow 10 types of licenses.

The people of New Zealand voted to reject the legalization of cannabis in the island nation, preliminary results of a referendum indicated Friday, the New Zealand Herald reported.

The United Nations Commission on…