So how do you think the markets will react when legalization goes nationwide? We’re about to get a sneak preview, thanks to some pending legislation. The law will make it legal for Medical marijuana stocks anyone in the country over 18 years old to possess small amounts of marijuana. It will also give companies permission to market and sell marijuana products. Politicians seem in favor of passing the law… and it could go into effect as early as July 1, 2018. The twist is that it’s not American companies that will profit… and I’m not talking about proposed legislation in the United States. Instead, this legislation is happening in Canada. The companies that are poised to benefit the most are in the Great White North. As you may know, marijuana was criminalized across the United States in October 1937.
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The share price of Aurora Cannabis (NASDAQOTH: ACBFF), for example, quadrupled in 2016 thanks in part to increased acceptance of medical marijuana in Canada. Aurora began selling medical marijuana in Jan. 2016 and had registered 10,800 active patients by late November. Aurora’s success, though, didn’t come about just because Canadians were more accepting of medical marijuana. The company took the right steps to reach out to patients and expanded its infrastructure quickly to keep up with demand. Others weren’t so smart and didn’t perform as well as Aurora did. Some marijuana stocks have achieved success for reasons other than increased public acceptance of marijuana. This is particularly true for biotechs developing cannabinoid drugs. For instance,GW Pharmaceuticals’ (NASDAQ: GWPH) stock soared in 2016 based on its pipeline success.
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