In 108 more days, Canada will make history. According to Prime Minister Justin Trudeau, and following the passage of the Cannabis Act (officially Bill C-45) less than two weeks ago, adult-use marijuana will go on sale in approved dispensaries throughout Canada on Oct. 17. This will make Canada only the second country in the world, and the first industrialized nation, to have legalized recreational weed.
What does legal marijuana mean from a financial perspective, you wonder? How about the addition of somewhere in the neighborhood of $5 billion in annual sales. This comes atop the revenue marijuana businesses are already generating from the sale of cannabis to medical patients in Canada and via exports to countries where medical pot has been legalized. This expected meteoric rise in sales over the short and intermediate term, along with rapidly expanding capacity, is what’s lured investors in droves to Canada’s pot stocks.