From a Highly Reputable Publicationquoted by pumptards when it suits their needs - and called a dirty rag when it doesnt.
What happened
Here in the United States, marijuana stocks, and the Congressional effort to get marijuana legalized, are all the rage -- but as MarijuanaMoment.net reminds us today, the marijuana market is bigger than just the United States.
Germany wants to legalize marijuana too, and that prospect is helping to lift marijuana stocks today. In noonday trading, ET, shares of Hexo (NASDAQ:HEXO) stock are heading 6.6% higher, followed by Curaleaf Holdings (OTC:CURLF) and Green Thumb Industries (OTC:GTBIF) -- up 3.3% and 2.9%, respectively.
IMAGE SOURCE: GETTY IMAGES.
So what
Over in Germany, conservative Christian Democratic Union Chancellor Angela Merkel is out of office, and the coalition of three German parties that will choose her replacement includes the liberal Free Democratic Party, the center-left Social Democrats, and the environmentalist Green party. As MarijuanaMoment reports, these three parties are in broad agreement that marijuana should become legal in Germany.
In a policy statement, the parties say they are "introducing the controlled supply of cannabis to adults for consumption in licensed stores," alongside implementing "controls" over product "quality" and "protection of minors." All of this will expand access to the drug beyond existing permission for its use for medicinal purposes (although advertising of marijuana will be restricted).
Now what
What does legalization in Germany mean for American and Canadian cannabis companies? Honestly, not a whole lot. Of the three stocks moving today, only Curaleaf has any real exposure to the German marijuana market -- and even Curaleaf, like Green Thumb, is mostly an American operation. (According to S&P Global Market Intelligence, Hexo gets most of its revenue from Canada).