After the market close, on February 23, 2017, a Reuters story was released:
White House may boost recreational marijuana enforcement: spokesman
The marijuana sector or segment of the economy, in its early infancy, reacted, as follows, during the 1 WK that followed (4 WK and 52 WK context is also provided):
|
1 WK |
4 WK |
52 WK |
|||
|
N |
PCT |
PERF |
PERF |
PERF |
|
|
No measures |
27 |
12% |
na |
na |
na |
|
No change |
25 |
11% |
na |
na |
na |
|
Winners |
34 |
15% |
30.1% |
40.2% |
1239.0% |
|
Losers |
145 |
63% |
-17.4% |
0.2% |
355.8% |
|
Total |
231 |
100% |
-7.3% |
6.6% |
465.0% |
Detailed results, where I used my Seeking Alpha portfolio of the entire marijuana sector or segment population or universe, are contained in the APPENDIX.
Read this Seeking Alpha article, authored by Ted Ohashi, which addresses this topic. I recommend that you follow his work, if you are interested in investing in marijuana stocks.
One of his bullet points follows:
The DoJ will be lowering the boom on American recreational marijuana companies at the same time that Canada is introducing legislation to legalize cannabis. Sell American and buy Canadian.
Keep in mind, the Canadian market (35M) is only about 10% of the U.S. market (319M) for "recreational" marijuana…this is about 11%. Also, keep in mind that "recreational legalization has occurred, through November 8, 2016, ballot measures, for about 22% or 200% of the entire Canadian market, with anticipation that more would follow in November 2018. This hope is gone - at least in the near-term.