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  Legalization Of Cannabis-infused Products Causes Pot Stocks to Jump 7% ? Here Are the Major Winners  
  Lorimer Wilson on 2019-10-23 15:11:16.0
 
 

The October 17th legalization of the sale of marijuana-infused beverages and edibles in Canada (referred to as Cannabis 2.0) effective December 17th, gave the cannabis market a much needed shot in the arm with the overall market advancing by 7% and one extraction stock increasing by 16.8% in anticipation of the demand that event will have on its sales, valuation and stock price.

By Lorimer Wilson. editor of munKNEE.com - A site for sore eyes & inquisitive minds

At the core of these new products will be cannabis extract companies that have been ramping up their extraction capabilities to prepare for the next phase of Canada's cannabis legalization. See a previous article I wrote on extraction stocks here.

The announcement had a positive and sustaining impact on the stock prices of the 5 primary extraction companies going up 10.0%, an average, over the previous week's close. Specifically:

  1. Valens GroWorks Corp. (TSXV:VGW; OTCQX:VGWCF) +16.8%
  2. Radient Tecnologies Inc. (TSXV:RTI) +12.0%
  3. MediPharm Labs Corp. (TSX:LABS; OTCQX:MEDIF) +11.4%
  4. Neptune Wellness Solutions Inc. (TSX:NEPT; Nasdaq:NEPT) +5.0%
  5. Nextleaf Solutions Ltd. (CSE:OILS) +2.6%

Based on the North American Marijuana Index the overall cannabis market saw an average increase of 7.05% last week led by companies such as:

  • OrganiGram Holdings Inc. (TSX:OGI; Nasdaq:OGI) +12.9%
  • Hexo Corp. (TSX:HEXO; NYSE:HEXO) +7.5%
  • Cronos Group Inc. (TSX:CRON; Nasdaq:CRON) +5.4% and
  • Canopy Growth Inc. (TSX:WEED; NYSE:CGC) + 3.5%

Why should you be interested in Cannabis 2.0? Well, according to 2 recent studies:

  1. 1.5 million new customers could now be introduced into the market with the availability of alternatives to smokeable products and
  2. this new legalization could create a C$2.7 billion industry in Canada.

The post Legalization Of Cannabis-infused Products Causes Pot Stocks to Jump 7% - Here Are the Major Winners appeared first on munKNEE.com.

 
 
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