Cannabis stocks outperformed the S&P 500 this week. Over the last five trading days:
- The ETFMG Alternative Harvest ETF (NYSE:MJ): gained 2.5%
- The AdvisorShares Pure Cannabis ETF (NYSE:YOLO): was up 2.6%
- The Cannabis ETF (NYSE:THCX): advanced 2.7%
- The Amplify Seymour Cannabis ETF (NYSE:CNBS): rose 4.2%
- The SPDR S&P 500 ETF Trust (NYSE:SPY) was down 0.35%.
The Senate approved a landmark cannabis legalization bill in a landslide vote. Mexican Senate Committees voted on Wednesday and the measure went to the chamber for a vote on Thursday. Per Reuters, the initiative needs to pass another obstacle — the lower house of Congress. Legalization has a deadline set to Dec. 15. The bill will enable people 18 years and older to legally buy and own up to 28 grams of cannabis, and also to grow up to four plants for personal use, reports the outlet.
Legal cannabis sales in Canada hit C$256.3 million ($196.4 million) in September; Canadian cannabis companies received more than C$25 million ($19 million) from the federal government’s Canada Emergency Wage Subsidy (CEWS); an Australian company sent cannabis oil to Germany, becoming the first to do so; and the top court in the European Union decided CBD derived from hemp does not count as a narcotic.
Helix Technologies Inc. (OTCQB:HLIX) announced year-to-date and…