Medical marijuana producers in Canada won’t have a problem with authorities as Ottawa plans on having marijuana legalized. Most of those intending on selling pot for recreational purposes will be given the go-ahead by the federal government of Ottawa. The legalization of recreational marijuana will be endorsed next year July as announced in a news report. The main question is how the legal market will function in various areas.
Neil Maruoka a stock analyst Canaccord Genuity who reports on openly marijuana trading firms said the currently disclosed date for the introduction of legal pot is “exactly along the lines of what we expected.” He also said; “Certainly there are some companies with more aggressive expansion plans, and this will give some comfort and clarity on what that path forward is going to be.”
Marijuana companies in Canada had stocks increased on Monday. The biggest public trading marijuana producer in Canada; Shares of Canopy Growth Corp had an increase of more than 11 per cent, while another large-scale company, Aphria gained 8.4 per cent of their shares. Maruoke said; “the tide that lifts all cannabis stocks” in relation to the postponing of the law, which is anticipated on the 10 of next month.