A healthy day of trading for Canadian cannabis stocks led the North American Marijuana Index to gain several points over Monday’s 169.07 close. The Index as a whole fared slightly well on Tuesday despite overall market losses on both sides of the border. Even with cannabis stocks in the U.S. remaining flat, the Index grew to 173.50, a gain of over two-and-a-half percent. Trading was bumpy today, with early morning turbulence giving the Index its highest peaks and valleys.
California Cannabis Surety Bond Program Approved by Insurance Commissioner
California Insurance Commissioner Dave Jones has been on a mission to ensure state-legal cannabis businesses have commercial insurance coverage and with his announcement of the first California cannabis surety bond program on Feb. 21, 2018, he continues to make progress.
Failed Applicants Sue Ohio Over Medical Cannabis Licensing Process
More strife is on the horizon for Ohio’s troubled medical cannabis program. On Feb. 20, 2018, a group of unsuccessful medical cannabis applicants, led by Jimmy Gould of CannAscend Ohio LLC, filed a lawsuit challenging the state’s medical cannabis licensing process.
Province of Newfoundland and Labrador Issues RFP for Cannabis Retailers
While the province of Newfoundland and Labrador has its key policies in place for recreational legalization and has secured a supply agreement with Canopy Growth Corporation (TSX:WEED) to provide cannabis for the province, it is now ready to hear from prospective cannabis retailers.