Marijuana Stocks Surged 125% in February 2014

The U.S. marijuana industry boomed last month as the Marijuana Index, which tracks marijuana-related stocks in the S&P 500, surged more than 125 per cent in February. President Obama signed legislation that would remove federal barriers regarding hemp cultivation. A financial regulation road map was also released, giving an ok to banks to support legal sellers. This support from the White House prompted investors to be bullish on cannabis. Marijuana companies have grown exponentially since Washington and Colorado legalized recreational use in 2012. Colorado expects to receive more than $180 million in taxes in the first 18 months.

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