The Nasdaq Index Bows To The Cannabis Industry

The Nasdaq (National Association Of Securities Dealers Automated Quotation) index is the second-largest automated electronic stock exchange in the United States. It includes high-tech companies in electronics, computing, and telecommunications. This entity incorporates companies from the marijuana industry dedicated to the research, distribution, and development of cannabis-based products.

More and more nations have legalized the use of marijuana, such as Canada and Uruguay. In the United States, 36 states allow consumption under different regulations. It is expected that the entire nation could soon legalize the substance.

Marijuana stocks, represented by ETFMG (Alternative Harvest ETF MJ), have grown 54 percent in the past 12 months, outpacing the Russell 1000, which reported a 44.8 percent increase as of May 27.

GrowGeneration (GRWG) focuses on the retail sale of hydroponic and organic gardening. Its range of services includes plant nutrition, agricultural soils, crops, advanced lighting technology, and equipment of all kinds.

On Friday of last week, GrowGeneration shares rose nearly 5% to $44.41 and have soared as much as 19% in the previous five sessions.

The Canadian-based company Tilray, which supplies cannabis for pharmaceutical distributors, focuses on researching, cultivating, processing, and distributing marijuana-derived products.

On May 3, Tilray announced a business combination with Aphria, a significant firm within the cannabis industry. During the first three months of 2021, the company reported 48 million dollars income, which placed it below the 52 million it earned in the same period of 2020.

OrganiGram Holdings is a company dedicated to producing medicinal and recreational cannabis; it has 11 years of experience in the industry.

OrganiGrams Holdings managed in the last 30 days to jump to more than 20 percent of the value of its shares, which translates to 141 percent so far in 2021.

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