Cannabis is legal across Canada from today
Health & Biotech
Canada’s legalisation of recreational cannabis overnight has so far not had much of an impact on Aussie pot stocks.
Cannabis suppliers — and investors — are salivating over what could be a market of $C7.2 billion in total sales in 2019, according to Deloitte.
On Wednesday Canada became the first G7 country – and second country in the world after Uruguay – to legalise marijuana for all adults. Each Canadian province has set its own age limit and rules on how to sell the drug – with some opting for storefronts and others pushing business online.
But while a handful of companies including Elixinol Global (ASX:EXL) and MGC Pharma (ASX:MXC) saw their share prices bounce on Tuesday, the tone was subdued on the ASX in the lead up to Canada’s big day.
MMJ (ASX:MMJ), THC Global (ASX:THC), YPB (ASX:YPB) and RotoGro (ASX:RGI) all have exposure to the Canadian recreational market, with Creso Pharma (ASX:CPH) saying they have plans to get in.
The latter two managed to move up a little, with Creso saying it “welcomed” the Canadian move while Roots had no news.
Profits out of the hands of criminals. Protection for our kids. Today #cannabis is legalized and regulated across Canada. pic.twitter.com/0ZxtohOHG0
— Justin Trudeau (@JustinTrudeau) October 17, 2018
The only big mover was Stemcell United (ASX:SCU) which rose 18 per cent on no news. They are focused on selling traditional medicine into the Asian and particularly Chinese markets.
ASX code | Company | 1 day price change | 6 month price change | Price Oct 17 (intraday) | Market Cap ($) |
---|---|---|---|---|---|
RNO | RHINOMED | 0.0345 | 1.565217391 | 30c | 34.1M |
JHL | JAYEX HEALTHCARE | 0.03 | 0.6666666667 | 3.1c | 5.0M |
BDA | BOD AUSTRALIA | 0.01 | 0.512195122 | 60.5c | 41.1M |
EXL | ELIXINOL GLOBAL | 0 | 0.1411764706 | $1.93 | 240.4M |
TPE | TPI ENTERPRISES | -0.03 | 0 | $1.46 | 122.4M |
THC | THC GLOBAL | -0.07 | 0 | 57.5c | 78.0M |
RGI | ROTO-GRO INTERNATIONAL | 0.06 | 0 | 46.6c | 44.3M |
YPB | YPB GROUP | -0.06 | -0.05555555556 | 1.7c | 13.6M |
CAN | CANN GROUP | 0 | -0.09 | $2.72 | 379.7M |
CPH | CRESO PHARMA | 0.05 | -0.1076923077 | 58c | 64.2M |
MXC | MGC PHARMACEUTIC | -0.09 | -0.1279069767 | 7.2c | 95.8M |
MMJ | MMJ PHYTOTECH | 0 | -0.1428571429 | 33c | 75.9M |
SCU | STEMCELL UNITED | 0.18 | -0.1481481481 | 2.6c | 11.3M |
MDC | MEDLAB CLINICAL | 0.02 | -0.1826923077 | 43.5c | 88.4M |
CP1 | CANNPAL ANIMAL | 0.03 | -0.2051282051 | 16c | 14.4M |
ROO | ROOTS SUSTAINABLE | 0.02 | -0.2763157895 | 27.5c | 17.6M |
EVE | EVE INVESTMENTS | 0 | -0.3 | 0.7c | 15.9M |
BOT | BOTANIX PHARMACE | 0 | -0.3307692308 | 8.7c | 65.9M |
LSH | LIFESPOT HEALTH | 0.06 | -0.368 | 8.2c | 6.0M |
ZLD | ZELDA THERAPEUTICS | -0.03 | -0.3727272727 | 6.9c | 53.6M |
ITD | ITL HEALTH GROUP | 0 | -0.375 | 17.5c | 15.0M |
AC8 | AUSCANN GROUP | -0.02 | -0.3986486486 | 87.5c | 275.1M |
AEB | AFFINITY ENERGY | -0.07 | -0.4583333333 | 1.2c | 12.1M |
ESE | ESENSE-LAB | 0 | -0.6060606061 | 6.5c | 5.2M |
CHP | CHAPMANS | 0 | -0.875 | 0.1c | 2.7M |
AGH | ALTHEA | 0.01 | na | 54.5 | 109.8M |