Aussie pot stocks at multi-month highs after UN reclassifies cannabis

Shanaya

04/12/2020 01:16

(Adds other Aussie medical cannabis firms)
    ** Australian medical cannabis firms extend gains, hover at
multi-month highs after the United Nations removed cannabis from
the most tightly controlled category of narcotic drugs
    ** Earlier this week, U.N. Commission on Narcotic Drugs
voted to remove cannabis from the most tightly controlled
category of narcotic drugs  urn:newsml:reuters.com:*:nL8N2II573
    ** Auscann Group Holdings  AC8.AX  hits an over 6-month
high, BOD Australia  BDA.AX  soars 11.5% to its highest level
since July 2019 (https://bit.ly/33JNg8x)
    ** Creso Pharma  CPH.AX  hits its highest since Feb. 17 in
its seventh consecutive gain session, and is on track to post
its best week ever, climbing over 230%
    ** CPH says the U.N. decision will benefit its existing
global distribution network and foot print (https://bit.ly/2IdEJTM)
    ** Other ASX-listed pot stocks - Cann Group  CAN.AX , Althea
Group Holdings  AGH.AX , Elixinol  EXL.AX  are set for
double-digit weekly gains

 (Reporting by Riya Sharma and Sameer Manekar in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))