Marijuana Stock: This Pot Stock Just Shot Up by 356%
ICC International Cannabis Corp (CVE:ICC) is letting the good times roll, as the new pot producer sees a 356% surge in its marijuana stock value.
ICC is a relative newcomer to the Canadian TSX Venture market, but since its debut on November 29, the stock has gone absolutely bonkers, rising as much as fivefold.
With the up-and-down nature of these marijuana stocks in Canada, the hype surrounding them, and the capital that has followed, we’ve seen some wild fluctuations in marijuana stock prices before.
Jason Zandberg, an analyst with PI Financial, told Bloomberg News in an interview that investors are interested in Canada for pot stockinvestment because the U.S. still has many states that restrict the usage of marijuana. Canada, of course, is set to legalize the drug in 2017, according to the federal government. (Source: “Marijuana producer jumps 356% as Canada’s investor pot frenzy intensifies,” Bloomberg News, November 30, 2016.)
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