
Prime Minister Justin Trudeau’s government prepares to legalize and regulate recreational use of the drug, which would be a first among Group of Seven nations, with legislation promised by early next year. The plan has fueled a surge in Canada’s marijuana stocks in anticipation of billions of dollars of legitimate revenue.
Shares of Canadian marijuana stocks surged Tuesday. Canopy Growth Corp. rose 7.9 percent to close at C$10.79 in Toronto, the biggest gain in nearly three weeks. Aurora Cannabis Inc. rose as much as 8.3 percent and OrganiGram Holdings Inc. saw its share price surge 8.9 percent.