MJIC Inc. has added five new companies to the U.S. Marijuana Index as a result of its quarterly rebalancing. In order for a company to be in the index, they have to have a weighted average minimum market capitalization of $30 million, daily trading volume of $600,000 and a share price that is at least 10 cents. Companies with over $5 million in revenue per year are exempt from these requirements.
On Aug. 21, 2017, the Denver Department of Environmental Health announced that Dixie Elixirs had six cannabis products recalled because they had not been made with food grade essential oils.
Nevada recreational cannabis sales have declined by approximately 20-30% since first launching in July of this year, according to a report published by the Nevada Department of Taxation and obtained by the Reno Gazette-Journal.
On Aug. 17, 2017, the San Diego Police Department narcotics unit raided two illegal cannabis dispensaries, bringing the number of raids on illegal dispensaries to more than 60 since March 2016.