Pot Stocks Fall In July; Italy To Sell Cannabis At Pharmacies

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A Global Plunge

The Global Cannabis Stock Index struck a 2018 low as it fell 10 percent in July. Only eight of 53 components posted gains.

The month’s concessions, weighed down by the hot selling Canadian licensed producers, brought the index’s year-to-date decline from 29.5 percent to 36.6 percent. It still trades up more than 58 percent from its nadir in October.

A National Embrace

Pharmacies in Italy were given a green light to sell medical cannabis.

“I will make every effort to ensure that medical cannabis is available in all pharmacies to ensure the continuity of treatment to which you are entitled,” Health Minister Giulia Grillo said on Facebook.

The government also said it would legalize production for private companies in order to meet the nation’s rising demand. Until now, the government-run Military Pharmaceutical Plant is the only entity allowed to produce. Its inability to meet demand has led to a surge in black market activity and imports from the Netherlands and Canada.

Officials have not yet announced a date for the distribution and production expansions.

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