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Home 🌿 Marijuana Business News 🌿 Heavy trading in Canadian marijuana stocks upon Liberal victory 🌿Heavy trading in Canadian marijuana stocks upon Liberal victory
Shares in publicly traded marijuana suppliers surged in early trading Tuesday, with a Liberal election victory potentially vastly increasing the size of the market that is up for grabs.
During his election campaign, prime-minister-designate Justin Trudeau made it clear that, if elected, one of his early objectives would be the legalization of marijuana – as long as the drug doesn’t end up in the hands of minors.
In campaign literature, the Liberals vowed to design “a new system of strict marijuana sales and distribution, with appropriate federal and provincial excise taxes applied.”
Currently, Canadians can only gain legal access to marijuana for medicinal purposes from licensed suppliers in limited circumstances.
“You look at pretty much every stock in the space. They’re all up on tremendous volume,” said Aaron Salz, an analyst with Dundee Securities Inc., in an interview early Tuesday.
“It all has to do with the election.”
The medicinal...
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