Weed stocks light up as Canada approves recreational marijuana

East Side Games

20/06/2018 15:43

** Shares of Canadian marijuana companies climb after
Canada's upper house of parliament approved recreational use of
marijuana  urn:newsml:reuters.com:*:nL4N1TM16X
    ** Leading the pack were shares of Aurora Cannabis  ACB.TO 
that gained 4.2 pct, Aphria  APH.TO  3.6 pct and Canopy Growth
 WEED.TO  3.4 pct
    ** Among other gainers were shares of MedReleaf  LEAF.TO ,
rising nearly ~3 pct and Green Organic Dutchman  TGOD.TO  ~1 pct
   
    ** The Canadian pot industry recently saw a wave of mergers
among pot growers, the latest and biggest being the
Aurora-MedReleaf deal worth about C$3.2 bln ($2.51 billion)
 urn:newsml:reuters.com:*:nL3N1SL52O  urn:newsml:reuters.com:*:nL3N1SL471
    ** Canopy Growth is the country's biggest cannabis company
by market cap, valued at C$8.54 bln ($6.43 bln)
    ** Canopy Growth has been partnering and buying out smaller
firms, it most recently partnered with nutrition products maker
Neptune Technologies & Bioressources  NEPT.TO   urn:newsml:reuters.com:*:nL4N1TL3EJ 
    ** Horizons Marijuana Life Sciences ETF  HMMJ.TO  rose about
0.5 pct and U.S.-listed ETFMG Alternative Harvest ETF  MJ.P 
rose 1.2 pct

 (Reporting by Shreyashi Sanyal in Bengaluru)
 ((RM: Shreyashi.Sanyal.thomsonreuters.com@reuters.net))