Cannabis stocks rebound on the eve of US elections
November 8 will be the day of the US presidential elections, but is also the day that will determine the fate of projects around the legalization of medical and recreational cannabis. The US marijuana index takes off on strong speculation in favor of supporters of legalizations.
Residents of five states are asked to vote on 8 November, a bill to legalize cannabis and its control in four additional states. In addition to successful polls in favor of cannabis, shares of the U.S. Cannabis Exchange have jumped in the past month.
According to the following index, the top 24 hemp companies in North America, Canada and the United States recorded in October an increase in shares of 8x their initial value. The most significant rebound is the value for Axim and its shares which jumped + 127%, which is probably partly due to the announcement of the collaboration with the Israeli pharmaceutical company 'Rafa', for the first time that we discover the commercialization of the chewing-gum-medical cannabis-based.
Second on the list is the company CLS, which has engaged in cannabinoid mining, with an 85% jump. The third American company engaged in the business of consulting the cannabis market, is "Cannabis" whose shares have jumped 41%.
Of the five countries where residents will be called to vote for or against legalization, California (Proposition 64), which is the sixth largest economy. Many believe that opening up its market around cannabis will lead to full legalization of marijuana in the United States.
Surveys show that in all states, the only slight advantage of cannabis supporters is estimated to be at least the certainty that 3 states out of 5 attendants, support and approve the legalization of cannabis, whether medical or recreational.