Canadian cannabis firms gain on potential for lower taxes in budget next week

Green Thumb Industries

03/04/2024 18:05

** Canadian pot firms rise on potential for the federal
government to reduce excise taxes when the budget is released
next week
    ** Canadian-focused cannabis stocks seeing tailwinds from
potential for lower excise taxes and opening of the German legal
market - Doug Cooper, analyst at Beacon Securities
    ** "Many Canadian producers sell into that (German) market
currently and others, such as High Tide, have plans to open
retail stores in the country"
    ** Shares of Canadian firms Green Thumb Industries
 GTII.CD , Aurora Cannabis  ACB.TO , Canopy Growth  WEED.TO  and
Curaleaf Holdings  CURA.TO  gain between 4.7% and 31.1%
    ** U.S.-based Tilray Brands  TLRY.O  rises 10%
    ** Nearly 40 U.S. states have legalized marijuana use in
some form, but it remains completely illegal in some states and
at the federal level

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com;))