Canada Marijuana Legalization Causes Stocks to Surge


In June of 2018, the Canadian senate passed legislation that would make marijuana fully legal in the country, and the legal sale of marijuana should begin starting on October 17th. While the laws in Canada were always somewhat laxer than they were in many other countries, such as the United States, this will now make marijuana entirely legal for recreational use. In fact, Canada is now the second country in the world that has fully legalized marijuana cultivation, sale, and possession. The only other country where it is entirely legal is Uruguay.

Given the legalization in Canada, and the fact that many states in the United States have now legalized marijuana for medical or recreational use, or both, it makes sense that the stocks started to climb. In fact, the publicly listed stocks in Canada were up by 3.34% after news that marijuana would be fully legal. Some companies surged even further ahead, such as Golden Leaf Holdings.

Most agree that Marijuana is going to be very beneficial for the economy of Canada, and that the legal market could be as much as $6.5 billion in just a couple of years. Those who are looking for cannabis investments will find that there are a number of companies that could be a beneficial investment in addition to Golden Leaf Holdings. Some of the other examples of companies to consider buying stock in include Canopy Growth Corp (NYSE: CGC), Aurora Cannabis, Inc. (OTCMKTS: ACBFF), and Cronos Group, Inc., (NASDAQ: CRON). These are just some potential investments to consider making.



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