With the growing acceptance of Canada’s medical-marijuana industry, Canopy Growth Corp. has switched over to a new four-letter stock ticker on the Toronto Stock Exchange on Wednesday, aptly named “WEED.” The Ontario-based company became one of Canada’s first marijuana giants when its market capitalization surpassed $1 billion CAD (approximately $768 million USD) last year. Canopy currently holds a value of $1.6 billion CAD (approximately $1.2 billion USD), but has yet to report a net profit according to Bloomberg.
Marijuana stocks in Canada have gone up as shareholders await on the legalization of its recreational use. The Canadian government has promised to introduce the necessary legislation in 2017, which would make it the first among the Group of Seven Nations to do so. Let us know your thoughts below.
Comments are closed.