In equity markets, May's reputation is not the best. After all, it is the month that investors are supposed to sell in and go away, according to the old adage. To be fair, the historical performance of the S&P 500 in the fifth month of the year is neither good nor bad. Over the past two decades, the S&P 500 has averaged a flat showing in May. Some sectors and the related exchange traded funds have historically delivered a little more excitement in May.

At the sector level, some May stars include defensive sectors, some of which are struggling year-to-date. 0.00% XLP, the largest consumer staples ETF by assets, is lower by 10.76 percent year-to-date, making it the worst-performing sector SPDR ETF. A confluence of factors has hampered XLP and rival staples ETFs this year, including investors' preference for growth sectors, rising interest rates and disappointing earnings reports. The rising dollar could further pinch the sector.

With those factors in mind, it would be nice for staples bulls if XLP lives up to its historical reputation as the best-performing sector SPDR in May. XLP averages May gains of over 1 percent, according to CXO Advisory. May is the only month of the year in which XLP is one of the two best sector SPDR ETFs.

Another defensive sector, health care, can be a solid performer in May. 1.49% is usually the second-best sector SPDR behind XLP in the fifth month of the year, according to CXO. XLV, the largest health care ETF, is up just over 1 percent year-to-date. The ETF averages May gains of just under 1 percent. Historical data indicate that some sectors struggle in May. It is the extent to which those groups struggle that investors should consider. 0.21% is the second-worst of the sector SPDRs in May, but XLY still manages to generate positive returns. Benzinga does not provide investment advice.

The Paragon Space is set to open its doors later this summer. On May 10, the company will be giving away 30 day-passes, three weekly passes and one monthly pass. Companies interested can fill out the application form here. “We want to be the driver of collaboration within the cannabis industry. Our giveaway sends some support back to the community that has supported us from the beginning,” CEO Jessica Versteeg said.

Cannabis testing and scientific research company EVIO Inc (OTC: EVIO) announced the acquisition of 50 percent of Keystone Labs, a privately held, independent contract-testing lab specializing in quality testing for regulated industries in Canada. “Keystone Labs is one of 37 laboratories licensed by Health Canada and one of only three laboratories that hold both a Dealer’s License and a GMP Drug Establishment License for cannabis testing,” said William Waldrop, CEO and co-founder of EVIO. “This acquisition is a significant milestone for EVIO as it will mark our first foray into an international market.

Cannabis science company Tikun Olam finalized a deal with Pennsylvania-based Ilera Healthcare to bring the former’s medical marijuana strains to the state. “We are pleased to be bringing these award-winning strains to the patients of Pennsylvania,” said Tikun Olam USA chief marketing officer Stephen Gardener. “We have spent over a decade of research and studies to improve the efficacy of these unique strains to assist patients with a variety of aliments and conditions.

Virginia has been making strides in changing cannabis policy by recently expanding laws to include affirmative defense for people in possession of CBD cannabis oil with less than 5 percent THC and expanding qualifying conditions. “A particular point of pride is the wide selection of products we are able to offer without compromising on quality. The hemp industry is booming with innovation and competition, which has led to an abundance of excellent products at increasingly affordable prices. Every single day we're bombarded with better products from small businesses across the board looking to stay ahead of curve,” Biddle said.

District Hemp is more a calling than a career choice, she added. “Working in the hemp industry has given me an opportunity to devote my life to something meaningful and has offered a platform to spread the word regarding something I'm passionate about; the benefits of cannabis. The market environment in the industrial hemp industry has brought to life the American Dream. It has allowed someone like me, with very limited resources, to quickly get off the ground with a flourishing health and wellness store.

April 25: CanopyBoulder is hosting an event for accredited investors to take a first look at high-potential companies presenting their innovative products and services for the ancillary cannabis industry in Boulder, Colorado. 2 million, will pitch their business in front of investors, followed by networking. April 30 - May 2: Philadelphia-based business accelerator Greenhouse Ventures will host the inaugural Cannabis Learn Conference and Expo in Philadelphia, Pennsylvania.