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Cannabis Index Launches On Tel-Aviv Stock Exchange

December 28, 2020 9:24 am
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Cannabis Index Launches On Tel-Aviv Stock Exchange

Israel’s cannabis market, which has been notably advancing in recent years, welcomed a new cannabis-focused index Monday on the Tel-Aviv Stock Exchange.

The index includes shares of nine companies belonging to the cannabis subsector under the biomed sector. The cannabis subsector includes companies in various medical cannabis sectors, such as research, sale, cultivation, production, and marketing.

It's also relatively new, having launched at the beginning of November.

The nine companies have a collective market cap of 1.7 billion shekels ($529 million).

The stock exchange said the subsector is a “a benchmark for active mutual funds that offer exposure to this emerging and growing sector.”  

The companies in the TA-Cannabis Index are Panaxia Labs, InterCure, Tikun Olam Cannbit, Cannassure, Univo, Seach Medical, Together, Pharmocann, and Intelicanna.