Event: Pot Day
April 20 or (4/20) is cherished by pot smokers around the world as a reason to toke up with friends. Why April 20? The burning question is answered (well sort of) … legend has it, in 1971, a group of high school friends from Northern California set out to find a hidden patch of cannabis. They set a time to meet at 4:20 to get high and go on a weed treasure hunt. They used the phrase “420” to remind each other of their plans to search for the secret garden of weed. Unfortunately, the kids never found the hidden treasure, but the phrase “420” stuck and morphed into a covert way to talk about marijuana. True or not … it makes for a plausible story coming from a bunch of stoners.
The questions is … are the markets dazed and confused heading into Pot Day?
Market Comparision
How do the markets perform leading up to and including Pot Day? The analysis table below breaks down each of the 30+ markets into four separate trading periods. These time frames span 6-days, 4-day, 2-days, and the event day itself. The return performance for each time frame is measured against its normal performance during the year to calculate a final over or underperformance return. This metric quantifies, in percentage points, the advantages or disadvantages associated with Pot Day. Markets highlighted with a checkmark or an “x” should be closely monitored for potential strengths or weaknesses heading into the event.
Calendar Breakdown by Events
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