Sep 19 (Lagos) - If you are not aware of the latest trend in USA and Canadian stock market environments, it is time to come to terms with it.
Cannabis stocks are on fire on the North American Stock exchanges. Stocks of Tilrey rose 40% this morning giving the Company a valuation of USD 20 billion. That seems a bit out of proportion with the current sales of Company which are in region of USD 20 million.
But that underscores the kind of demand for these Marijuana stocks in USA and Canada that investors are willing to give such Companies a valuation on future expectations that may be realized in the next 10-15 years.
What is beneath the euphoria is the fact the Marijuana will become legal in Canada on October 17th. In the USA it is already legal in 7 states while others are considering legalization.
Many other countries around the world are also legalizing weed and that is causing these weed stocks to jump up because these Companies will meet the global demand which is difficult to calculation because the legal sales are banned in most Countries.
Other weed stocks which are souring are Canadian Companies Canopy Growth Corporation, Aurora Cannabis among others.
reporting for easykobo.com on Wednesday, Sep 19 2018 from Lagos, Nigeria
