Cannabis stocks skyrocketed in the latter half of 2017 as the industry prepared for its two most significant adult-use markets to open in the new year, California and Canada. The trend was evidenced in MJIC’s North American Marijuana Index, which showed a 61 percent increase in December alone. It was an evenly spread out trend, as both U.S. and Canadian stocks caught fire in closing out the year, with the United States Marijuana Index increasing by 35 percent and its Canadian counterpart soaring by 65 percent. Major players in the sector such as Canopy Growth (TSX:WEED), Aurora Cannabis (TSX:ACB) and Aphria Inc. (TSX:APH) dominated headlines as their market caps grew, by some estimates, to overtake the size of the entire industry.
Marijuana futures dampened, however, as the promise of legalization took a hit in early January with the announcement that U.S. Attorney General Jeff Sessions