Australia's pot stocks cheer TGA green lighting cannabis product sales

Bod Science

01/02/2021 02:01

** Shares of ASX-listed Creso Pharma  CPH.AX , Elixinol
Global  EXL.AX  and  Althea Group Holding  AGH.AX  surge
    ** CPH says welcomes Therapeutic Goods Administration's
(TGA) decision to allow over-the-counter sale of low-dose
cannabidiol (CBD) products in Australian pharmacies from 1 Feb
 urn:newsml:reuters.com:*:nFWN2K605Z
    ** CPH shares rally as much as 18% to see best day in about
4-weeks
    ** Medicinal cannabis supplier Althea and peer THC Global
 THC.AX  jump ~5% each
    ** Hemp seed maker ‍ECS Botanics​ Holdings Ltd  ECS.AX 
climbs 6.5%
    ** Cannabis stocks have gained traction since Joe Biden's
U.S. election win firmed hopes of deregularisation in the
industry, helped further by the the United Nation reclassifying
cannabis as a less dangerous drug  urn:newsml:reuters.com:*:nL4N2IJ02N
    ** Stocks had languished last year due to oversupply
concerns and fallout from the coronavirus outbreak

 (Reporting by Anushka Trivedi in Bengaluru)
 ((Anushka.Trivedi@thomsonreuters.com; +918061823241;))