Marijuana stocks in ‘melt up’ amid Canadian legalization
UPDATED:
NOVEMBER 13, 2017
Marijuana stocks in ‘melt up’ amid Canadian legalization fever
Canadian marijuana producers jumped again Monday, with one in particular surging to new highs amid optimism over its prospects in Quebec.
Aurora Cannabis Inc. jumped as much as 24 per cent and is now up more than 80 per cent this month, fueled by rising revenue and speculation it can secure a strong market position in Quebec's legalized cannabis market. Aurora's weed-growing facility in the province received a cultivation license, putting it in a favorable position, said Chris Damas, the editor of the BCMI Report in Barrie, Ont.
Aurora was 21 per cent higher at $5.61 at 12:19 p.m. in Toronto, giving the company a market capitalization of $2.25-billion. Canopy Growth Corp. rose as much as 3.9 per cent while Aphria Inc., another producer, climbed 8.4 per cent. All three rallied Friday after the Canadian government proposed a tax of $1 a gram for legalized recreational pot.
https://www.google.ca/amp/s/beta.theglobeandmail.com/amp/globe-investor/investment-ideas/marijuana-stocks-in-melt-up-amid-canadian-legalization-fever/article36938808/