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Marijuana Index Gets Lit Up Ahead of California Proposition 64 Vote

Submitted by Marijuana News on Mon, 10/17/2016 - 09:19

The North American Marijuana Index has gained 105% over the past three months, buoyed by expectations that California and several other states could vote to legalize recreational weed this November.

The North American Marijuana Index closed at $125.53 on Friday, down 5.6%. The index finished higher for the week and has tripled since the beginning of the year.

Top gainers on Friday included General Cannabis Corp (CANN), Grow Condos Inc. (GRWC) and MassRoots Inc. (MSRT).

The Marijuana Index, which began trading in January 2015, includes just 23 stocks out of nearly 200 in the industry. To be included in the cannabis index, companies must have a market capitalization of at least $10 million, daily trading volume of $20,000 and a stock price above 10 cents. The average stock on the index has a market cap of $263.9 million, according to CNBC.

California, which is home to...

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