WHITEFISH, MT / September 8, 2014 / Cannabis stocks moved largely lower over the past week amid ongoing profit taking following the industry’s run-up over the past year. Top gainers for the week included Nuvilex Inc. (OTC: NVLX) earlier in the week following its application for orphan status for its pancreatic cancer treatment and mCig Inc. (OTC: MCIG) late in the week following the trademarking of two brands.
On the regulatory front, a recent poll by Civic Science analyzed a sample of nearly 500,000 U.S. adults over the past two years that held a view on marijuana legalization. The results showed that 58% would support legalization, 35% would oppose it, and 7% have no strong opinion. Meanwhile, select Illinois residents can now apply for medical marijuana licenses beginning September 2, 2014.
– Lexaria Outlines New Medical Marijuana Policies – Lexaria Corp. (OTC: LXRP) recently announced new corporate policies regarding the responsible use of medical marijuana that could set the standard for the industry.
– Legalized Marijuana Could Reduce Prescription Overdoses – New research shows that states with legalized medical marijuana have lower rates of fatal overdoses from prescription medications.
– Organigram Begins Trading in the U.S. and Canada– Organigram Inc. (OTC: OGRMF) began trading in the U.S. and Canada as a licensed producer under Canada’s newly implemented Marihuana for Medical Purposes Regulations.
– Women May Be More Sensitive to THC in Marijuana– New research shows that women may be more sensitive to THC than men, which makes them more susceptible to the associated negative side-effects.
– Affinor Growers Adds Former Medbox Exec as Consultant – Affinor Growers Inc. (OTC: RSSFF) recently announced the addition of former MedBox Inc. (OTC: MDBX) CEO Dr. Bruce Bedrick as a consultant.
– Study Shows Marijuana May Be Addictive – Marijuana has been long touted as a non-addictive drug, but a new study challenges that theory after following the outcomes of 127 teens treated for outpatient substance abuse.
– Endexx Expands Investor Awareness Efforts – Endexx Corporation (OTC: EDXC) recently announced that it would be presenting at the Aegis Capital 2014 conference after receiving its first order of organic high-grade CBDs.
What to Watch This Week
Many cannabis stocks moved lower over the past week as profit taking continues in the space, but companies in the space are still making operational progress. On the regulatory front, public support for cannabis is on the rise as more patients enroll in medical marijuana programs across the country. Investors are hoping that these trends ultimately help cannabis stock moves higher over the long-run.
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SOURCE: Emerging Growth LLC
Source: Accesswire IA (September 8, 2014 – 12:01 PM EDT)
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