Marijuana Stock Blip Hints at Canada Doubts



BY:

The U.S. election opened a small but noteworthy gap between Canadian and U.S. cannabis companies last week, underscoring all of the unanswered questions that investors face as access to pot spreads across the world’s largest economy.

New Jersey, Arizona, South Dakota and Montana voted to legalize recreational use last week, while Mississippi and South Dakota will allow medical marijuana. This puts about 21 million more Americans in the reach of cannabis products — more than half Canada’s total population of 38 million.

While growth in a neighboring market might seem to be a good sign for Canada’s cannabis industry, the biggest Canadian producers plunged early on Nov. 4 in their first trading after the election. They rebounded later in the week — in part on the prospect of legalization in New York state and changing sentiments. But the divergence, even if it was a blip, sparked discussions about how much Canada could benefit from the “green rush” south of the border.

Beyond the obvious questions surrounding marijuana’s legality — it remains federally illegal in the U.S. — there’s also the central issue of whether the U.S. would open its market up to competition. [Read more at Bloomberg]

The post Marijuana Stock Blip Hints at Canada Doubts appeared first on Cannabis Business Executive – Cannabis and Marijuana industry news.

BY:



More from our Blog

Nov 24
LED grow lights are more affordable than ever for cannabis cultivators

Growing Presented BySpider Farmer November 24, 2020 For cannabis growers, lights are a…

Nov 24
How to Store Marijuana Seeds Properly

There’s a lot of reasons to store cannabis seeds rather than just planting them…

Nov 24
How To Promote Your Cannabis Business Online

Cannabis is a big business all around the world. With more states legalizing cannabis…

Nov 24
Remembering Franco Loja and his lasting influence on modern cannabis

If you’re a fan of — or have even heard about — famous cannabis…

Nov 24
Lawmakers planned to pass a legal weed bill Monday. Here are the disputes that stopped it from happening.

After last-minute disputes forced the Assembly and Senate to cancel Monday votes on…

Nov 23
Mexican Senate passes bill to legalize marijuana nationwide

Mexico’s Senate approved a bill to legalize marijuana nationally last Thursday.…