Canadian marijuana firms’ stocks surge after Liberal Party win

published on October 21, 2015 in Telesur

Justin Trudeau promised to legalize and regulate marijuana during his electoral campaign. When? It is yet to be defined.

Canadian medical marijuana producers’ stocks surged Tuesday after Justin Trudeau’s Liberal Party historic victory, which increases hopes that the new prime minister will come through with campaign pledges to “legalize and regulate” cannabis.

Canopy Growth Corp. was up 11 percent to US$2.43, Aphria Inc. rose 5.3 percent to US$1 and Mettrum Health Corp. gained 7.6 percent to US$1.98, according to Bloomberg.

The UBC assistant professor of medicine M.J. Milloy said, “If Mr. Trudeau is in fact serious and if he removes some of those barriers, we could see more people accessing marijuana through the federal system.”

The professor added that, “Marijuana is a very well tolerated drug without the side effects that we see in other drugs like opioids,” which has been used more and more over the years by Canadians, causing a rise in related deaths.

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