Los Angeles, CA, January 19, 2017 --(PR.com
)-- MJIC Inc. has rebalanced its North American Marijuana Index, adding 11 new cannabis companies.
The North American Marijuana Index tracks the leading public cannabis companies operating in the United States and Canada, and is broken down into two country sub-indices: the U.S. Marijuana Index and the Canadian Marijuana Index. Each index is equal-weighted and rebalanced quarterly. The North American Marijuana Index now has 28 constituents, and the U.S. Marijuana Index and the Canadian Marijuana Index have 17 constituents and 11 constituents, respectively.
Given the cannabis industry’s strong trading performance over the last three months, the minimum trading requirements for companies to join the indeces was increased. Companies must have achieved a weighted average minimum market capitalization of $30 million USD, daily trading volume of $400,000 USD and share price of $0.10 USD. Companies with more than $5 million USD of revenue over the prior year are exempt from the above trading requirements.
Companies added to the U.S. Marijuana Index include:
· American Cannabis Company, Inc.
· Axim Biotechnologies, Inc.
· CannaRoyalty Corp.
· GrowGeneration Corp.
· Innovative Industrial Properties, Inc.
· Nutritional High International Inc.
· Surna, Inc.
· United Cannabis Corp.
Companies added to the Canadian Marijuana Index include:
· Emblem Corp.
· Emerald Health Therapeutics Inc.
· Naturally Splendid Enterprises Ltd.
"The U.S. elections in November proved favorable to the legal cannabis industry and publicly traded cannabis stocks, as the North American Marijuana Index increased 134% in the last six months of the year," said Dan Nicholls, Vice President. "Both the Canadian Marijuana Index and the U.S. Marijuana Index achieved substantial gains during 2016, increasing 205% and 175% for the year, respectively."
MJIC made an adjustment to its methodology for assigning companies to the U.S. Marijuana Index and the Canadian Marijuana Index. Historically, constituents were assigned to a country sub-index based on their stock exchange’s location. Constituents will now be assigned based on their primary location of operations. This adjustment took effect on January 1st and was made retroactively dating back to each index’s inception. It resulted in a minor change to the value of the U.S. Marijuana Index and the Canadian Marijuana Index, with no material change on the North American Marijuana Index.
About The Marijuana Index
The Marijuana Index tracks the leading cannabis and hemp stocks operating in the United States and Canada. It offers investors the tools and information they need to monitor the public markets in this growing industry. The Marijuana Index is owned and managed by MJIC, Inc. The Marijuana Index is for informational purposes only. Inclusion in the Marijuana Index is not an endorsement or recommendation for any company.
For more information, please visit www.marijuanaindex.com.
About MJIC, Inc.
MJIC, Inc., a privately held company, is a diversified holding company focused on distribution, media and events, compliance services and financial services within the cannabis industry. MJIC, Inc works alongside some of the top businesses and industry leaders in the nation, and along with its substantial stake within the cannabis business, is quickly emerging as one of the largest industry businesses today.
To learn more about MJIC, Inc., please visit: www.mjic.com.