In 1994, the disgraced former aide to Richard Nixon and a key figure in the Watergate scandal John Ehrlichman made a startling admission about the War on Drugs to writer and reporter Dan Baum —startling not so much for its content, which many had long suspected, but for the nonchalant attitude in which Ehrlichman delivered it.

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Cannabis stocks had a mixed day on Tuesday as U.S. marijuana markets shook off last week’s bottom and panicked selling dried up despite a poor showing in the Canadian sector. MJIC’s North American Marijuana Index posted significant gains on the strength of the U.S. market following Monday’s day off for the Martin Luther King Jr. holiday. Other cannabis indices showed marked increases, as well as the presumed market correction, began to shake out as investors showed confidence in the industry. Cannabis stocks did well on Tuesday in spite of a down day on Wall Street and the Canadian exchanges, with the broader markets falling for the first time in days.

Cannabis stocks skyrocketed in the latter half of 2017 as the industry prepared for its two most significant adult-use markets to open in the new year, California and Canada. The trend was evidenced in MJIC’s North American Marijuana Index, which showed a 61 percent increase in December alone. It was an evenly spread out trend, as both U.S. and Canadian stocks caught fire in closing out the year, with the United States Marijuana Index increasing by 35 percent and its Canadian counterpart soaring by 65 percent. Major players in the sector such as Canopy Growth(TSX:WEED), Aurora Cannabis (TSX:ACB) and Aphria Inc. (TSX:APH) dominated headlines as their market caps grew, by some estimates, to overtake the size of the entire industry.