Of all the industries across Canada, none could possibly be happier with Monday’s election result than the medical marijuana sector.
Justin Trudeau’s plan to legalize marijuana promises to bring massive opportunity to an industry that only came into existence last year.
Marijuana equities moved higher on Tuesday as investors absorbed the news. Shares of Canopy Growth Corp. (formerly Tweed Marijuana) jumped 13 per cent, while Aphria Inc.’s shares climbed 11 per cent.
The federal government birthed the marijuana sector in April 2014, when it introduced rules that required medical pot patients to buy their product from licensed producers. That created a market frenzy as dozens of companies popped up out of nowhere to get into the sector. Those firms are slowly being whittled down to a much smaller group of capable long-term producers.
– Read the entire article at Financial Post.