Canadian cannabis stocks are ripe for a rebound, Canaccord Genuity says

Mar 13 00:03 2018 Print This Article

After a humdrum February, Canada’s cannabis sector is likely to rebound over the near term, says analyst Matt Bottomley of Canaccord Genuity, who says upcoming news in the sector should allow for further market expansion.

So far, 2018 has seen both ups and downs for Canada’s pot stocks. January saw about 1.9 billion of capital raised and, by mid-month, a number of cannabis stocks had hit all-time highs. Yet, there’s been a decided drag every since, effectively erasing much of those gains made at the start of the year.

Other factors have added more uncertainty to the industry, too, such as recent news from Canada’s Senate that passing of Bill C-46 could be further delayed, as a study of the proposed law concerning drug-impaired driving was suspended for another two months. While a late-August date had been recently floated, now some senators are suggesting that the end of 2018 might be a more realistic timeline for recreational legalization.

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Cantech Letter

Founded in 2008 by Nick Waddell, Cantech Letter is an online magazine focusing on Canadian technology. The site has grown into one of the most popular and respected financial sites in Canada, and was described by Canadian Business Magazine as “one of Canada’s premier technology newsletters”. Waddell, who is Senior Editor, is routinely called on by the mainstream media for perspective on Canadian technology, and has been featured on BNN, CTV News Channel, and the CBC program “The Lang and O’Leary Exchange” in addition to mainstream print media such as The Guardian, The International Business Times, The Globe and Mail, Macleans, The Waterloo Record , Canadian Business, Slate, and Business Insider. You can email Nick at nick@cantechletter.com Cantech Letter is focused on those companies listed on the TSX and TSXV Technology, Cleantech and Life Sciences Sectors. Each year we present the Cantech Letter Awards, which honor Canada’s Top Technology Stock and Top Technology Stock Executive.

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