Recent years have brought an array of cannabis gatherings to Canada, led by the annual cavalcade of the Lift Expo, O’Cannabiz, and Grow Up cannabis conferences.
But this past week brought a new conference to our country, helmed by the US-based trade journal Marijuana Business Daily, which brought its successful US-based MJBizCon event series to Toronto for its inaugural international foray.
The cannabis industry is one of the fastest-growing sectors in the world, and a number of alcohol giants are choosing to invest in legal pot rather than get pushed aside by potential competition. Constellation Brands, the U.S. distributor of Corona, Modelo, Svedka, and other imported beers, wines, and liquors, snapped up a 9.9% share in Canadian cannabis giant Canopy Growth Corp. last year for the cost of $191 million. This week, the company vastly increased their commitment to legal weed, announcing an additional $4 billion investment in Canopy.
You might have thought that 2018 would have been a fantastic year for most marijuana stocks. Canada is on course to open its big recreational marijuana market in October. Global demand for medical marijuana is increasing. But the reality is that most marijuana stocks aren't performing nearly as well so far this year as they did at this point in 2017.
He may not realize it yet, but U.S. Attorney General Jeff Sessions’ opposition to weed could boost cannabis investor wealth.
One particular date stands out as a shining example of Sessions’ impact on cannabis stocks – January 4, 2018.
It was on this very day that Sessions delivered a one-page memo to all attorney generals in the states.
The memo detailed how he repealed all previous guidance regarding cannabis enforcement.