Cannabis stocks seem to be rebounding after a tough February. Over the last week, the United States Marijuana Index, which tracks 15 of the largest marijuana stocks in the U.S., posted gains of 5.5 percent. Meanwhile, the North American Marijuana Index, was a bit more volatile on the back of Canadian stocks, ultimately surging 7.4 percent over the week.
The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) rose 4.2 percent over the five days of the week, while the ETFMG Alternative Harvest ETF (NYSE: MJ) gained 2.2 percent.
It wasn’t all green on this side of the lawn.
“This week offered a reminder that cannabis stock investors should be cautious,” 420 Investor Alan Brochstein told Benzinga, as he referenced a promotion scandal involving OWC Pharmaceutical Research Corp (OTC: OWCP). “Jeff Friedland, a very public promoter of OWC Pharma, was sued by the SEC for not properly disclosing his relationship with