Marijuana companies’ shares are rising; companies suggest “puffing” for fun

 For the past couple of years, marijuana has become more medicinal—health-based. Even though a lot of medical practitioners refute it; ignoring all the obvious proof there is. Canada has now joined the list of nations using weed to help control and even cure illnesses but some now want to take it to level that will make pessimists go “I told you so” : recreational use.

Canopy Growth saw its stocks increase by 2.7% is currently at $10.27. But it did go up by an additional 72 cents the second Tuesday of the month.

Another marijuana company that saw a rise was Emerald Health Therapeutics, of 8 cents which over 6% at $1.33 on the TSX Venture Exchange.

Aphria Inc.’s chares went up to $5.19; and Mettrum Health Corp.’s went up to $6.73.

The person that made the recommendation for weed to be sold for recreational use was former federal cabinet minister, Anne McLellan. She said that the substance should be sold in storefront locations for those 18 and older but at the same time, there should be a ban on selling it along with alcohol and tobacco; and criminalizing the production and sales of it to young people, etc.

I personally do not agree about selling it for recreational purposes but she did and one more recommendation that I think a majority of the general public will agree with: using tax revenues generated from sales made for public education campaigns; and more research on the health risks associated with cannabis consumption. The latter seems a bit ironic.

According to Deloitte has said that the recreational marijuana market may be worth around the $8.7 billion ball-park in annual sales. That of course doesn’t include paraphernalia, testing labs and security services. If those were to be included, the amount flies up to $22.6 billion/yr.

“On the production side, supplying even the low-end estimate of the recreational market would require producing over 600,000 kilograms of marijuana annually, a significant increase from what the medical marijuana industry is currently capable of producing”.

Canopy Growth desires to acquire Mettrum for $430 million. If this happens, Canopy would obtain two licences medical marijuana along with the patent of Mettrum’s hemp-based health products.