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Cannabis Summary for Jan. 11, 2021

2021-01-11 20:09 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index added 12.03 to 204.79, while the CSE Composite Index added 18.12 to 784.96. U.S.-focused cannabis stocks continued their rally, as legalization proposals blazed across the conservative South. State lawmakers in Alabama, Kentucky and South Carolina have filed or prefiled bills to establish medical cannabis programs. The flurry of filings comes just weeks after voters in Mississippi overwhelmingly approved a medical cannabis initiative as part of the November ballot. These are all medical cannabis proposals, not recreational -- this is still the South -- but they attest to the rising acceptance of cannabis across the country.

One U.S. MSO (multistate operator), Acreage Holdings Inc. (ACRG.A), added 33 cents to $6.08 on 166,500 shares, after trumpeting an "outstanding" addition to its board of directors. That would be Katie Bayne, a former 23-year executive of Coca-Cola. Her past roles included president of North American brands and chief marketing officer for North America. Ms. Bayne is also the founder and president of her own consulting firm, Bayne Advisors. Acreage swooned over her "exceptional background," which will aid it in "building and nurturing a house of brands that has mass appeal."

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