In Toronto, Bay Street is Wall Street and now you can buy weed on Bay Street—well, sort of.
Actually make that “WEED.”
Ontario-based Canopy Growth Corp., switched to the new four-letter stock ticker on the Toronto Stock Exchange: WEED. So clever.
As our hard-earned weed legalization efforts here in the U.S. feel like they’re suddenly on shaky ground with so many even shakier human beings taking over the White House, our peaceful, health-insurance-loving and pot-accepting neighbors to the north are seeing their cannabis industry bloom like a fresh green bud.
Is anyone else green with envy?
“We’re thrilled to be marketing WEED on Bay Street,” CEO Bruce Linton said in a statement reported by Bloomberg Market News.
Canopy became Canada’s first huge marijuana success story when its market capitalization surpassed $1 billion last year. It now has a valuation of $1.2 billion.
Naturally, the value of marijuana stocks in Canada has swelled as shareholders are obviously confident about legalization of recreational weed.
The Canadian government has promised to introduce the necessary legislation this year, which will make it the first among the Group of Seven Nations to do so.
Justice Minister Jody Wilson-Raybould told the Toronto Sun that the government is determined to bring forward legislation to legalize and regulate recreational weed this spring, despite many unknowns associated with the Trump administration.
If legalization occurs along the expected timeline, there could be as many as 3.8 million recreational pot users in Canada and the potential for $4.5 billion in sales, Canaccord Genuity analysts reported. Canada’s population is 36.5 million.
Canopy, whose shares have more than tripled in the past 12 months, just received court approval to acquire Mettrum Health Corp, a Canadian medical marijuana producer, which will make Canopy the largest cannabis player in Canada. Just in time for full legalization.
New Bill Ensures Some Retroactive Drug War Justice for New Hampshire
Recreational Cannabis Comes to Northern Nights Music Festival
The Winners of the 2019 Bay Area Cannabis Cup
The Winners of the 2019 SoCal Cannabis Cup
House Votes to Protect States With Legal Marijuana From Feds
Two Plead Guilty to Using United States Postal Service to Traffic Marijuana
Honoring the Legend: Jack Herer
Raid of Massive Illegal Cannabis Grow Site in California Took Four Days to Complete
News5 days ago
What Was Said at Today’s Congressional Hearing on Federal Marijuana Law Reform
Health5 days ago
The Pechoti Method: Can You Put Weed in Your Belly Button?
News6 days ago
New Subscription Service Ships Concentrates Directly to Consumers
Entertainment6 days ago
Jay-Z Announces Partnership With Top Cannabis Company Caliva
News3 days ago
Coast Guard Busts Submarine Carrying Over $500 Million Worth of Cocaine, Weed
News3 days ago
Florida Court Rules Medical Marijuana Licensing Law Unconstitutional
Health4 days ago
Cannabis and Mental Health: Schizophrenia
News5 days ago
Hawaii Officially Decriminalizes Small Quantities of Cannabis