Canadian Cannabis Stocks Flying Higher on Monday
Marijuana stocks continue to be at the head of the pack as far as new industry booms go. The industry once completely prohibited across the globe is now getting to stretch its legs as Canada readies for full legalization next month. Many pot stocks were weighed down this summer until Constellation Brands (STZ) made an additional investment into Canopy Growth (CGC) (WEED) for some $4 Billion.
The original Constellation investment, announced in late October of 2017, was targeting a cannabis-based beverage line that the two companies would work on. There has been much more speculation as to what the US cannabis market could look like in the future should it decide to fully legalize recreational marijuana sales. However, since this is not the case thus far many investors are placing their bets on highflying Canadian cannabis stocks this quarter.