Cannabis stocks go ever higher

THERE HAS not been anything like it since the waning days of prohibition in America in the early 1930s, when Canadian distillers, already enriched by the banning of legal alcohol sales south of the border, readied themselves for the end of restrictions and a guaranteed boom. On October 17th retail cannabis sales became legal in Canada, offering its cannabis firms a certain chance to expand at home and the potential to capitalise abroad.

Financial markets are giddy at the prospect. Ten cannabis-related firms are listed on American exchanges, with one more in the process of applying; several dozen have listed on Canadian exchanges and scores more trade over the counter. Two American ETFs (exchange-traded funds) cover the sector: the Horizons Marijuana Life Sciences Index and the ETFMG Alternative Harvest (whose ticker, MJ, is one of many to capture cannabis-industry slang). Both are up by around two-thirds since mid-...

via Business Feeds

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