18:36:41 EST Wed 27 Jan 2021
Enter Symbol
or Name

Login ID:

Cannabis Summary for July 13, 2020

2020-07-13 19:43 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The S&P/TSX Cannabis Index gained 1.51 points to 147.73 Monday, while the Canadian Securities Exchange Composite Index rose 16.57 points to 435.10, its highest close since January. (The largest five companies in the CSE Composite are United States-based cannabis companies.)

American cannabis stocks continued to climb after a significant jump Friday. One such company, Cresco Labs Inc. (CL), rose 82 cents to $7.01 on 2.49 million shares today after announcing it had opened its eighth dispensary in Illinois. Cresco has been focused for some time on Illinois, which is its home state.

Recreational marijuana was legalized in Illinois on Jan. 1, 2020, and, with reports of lines stretching around corners in the first week, there seemed to be enthusiasm from Illinois consumers from the start. The State recorded $39-million of recreational cannabis sales in January, followed by a slight lull from February to April. In May and June, though, Illinois had $44-million and $47-million of recreational cannabis sales respectively. Cresco notes that, while $47-million was the amount of recreational sales for June, total sales came in at around $77-million.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2021 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.