For mom-and-pop investors, the options may be riskier, given that retail investors can access the marijuana market mostly through volatile Canadian stocks such as Tilray, a Canadian marijuana producer that went public in July at $17 a share. Speculators drove Tilray up to $300 in mid-September before it slumped to $140 or so on Friday. Beware this overhyped weed stock.
The Securities and Exchange Commission also issued a stern alert about marijuana stocks in early September, warning of fraud and market manipulation.
Philly locals
The North American Marijuana Index rose on Monday as pot stocks gained despite further delays to Canada’s marijuana legalization efforts. Though minor, 34 amendments were proposed to the final bill, which is expected to pass the Senate on Thursday. Following that, the bill will head back to the lower chamber, where members of the House will consider the changes.
In Uruguay, the first country to make recreational cannabis legal on a federal level, 1 gram of cannabis — only sold in pharmacies to registered locals — costs $1.40. This compares to roughly $5 to $7 in the U.S., although prices vary widely depending on the state and variety.
Tourists in Uruguay cannot procure cannabis unless it is gifted by a local adult, but sources have reported black market prices are about $20 per gram. Fun fact: the photo accompanying this article was taken in Uruguay on Friday.