Canadian cannabis stocks got a nice boost this morning after we learned that the Liberal government was about to announce that cannabis legalization would go into effect on July 1, 2018.
There were some folks – mostly asshole prohibitionists – that were questioning whether or not legalization in Canada would really happen. This was mostly done as a last-ditch effort to stop was simply cannot be stopped any longer.
This skepticism weighed heavily on investors, though, so when the news was announced today that a time frame is now in place, much of that skepticism mutated into enthusiasm.
According to CBC, the legislation will finally be announced during the week of April 10 and will broadly follow the recommendation of a federally appointed task force that was chaired by former liberal Justice Minister Anne McLellan, who, by the way, posted this tweet last week …
It’s definitely a good day to be a cannabis investor. Especially if you have exposure to the Canadian market, which is something I’ve recommended for three years now.
That’s not to say there isn’t opportunity in the U.S., but the big moves right now are happening in the land of poutine and polite people. God I love Canada!
Here’s how our cannabis stocks are looking right now …
- Aurora Cannabis (TSX-V: ACB) – Up 8.77%
- Aphria, Inc. (TSX-V: APH) – Up 1.28%
- Emblem Corp. (TSX-V: EMC) – Up 5.56%
- Emerald Health (TSX-V: EMH) – Up 6.78%
- Innovative Industrial Properties (NYSE: IIPR) – Up 2.57%
- OrganiGram (TSX-V: OGI) – Up 7.66%
- Canopy Growth Corporation (TSX: WEED) – Up 9.72%
Here’s what we’re buying …
Emerald Health (TSX-V: EMH) – Buying below $1.45
And here’s what we’re watching …
