The enthusiasm for cannabis stocks in Canada remains tepid despite its continued legalization by parliament.
The Cannabis Act, which was passed by the House of Commons on November 2017, allows for the production of cannabis for personal use. The total amount of revenue that the cannabis market would generate for the Canadian government is said to be $675 million dollars a year.
Despite being in a downward trend for months, some cannabis stocks have made an unexpected reversal to the upside. Major companies such as Canopy Growth Court and MediPharm Labs closed between five and eight percent up.
The market seems to be holding its breath for the 60-day moratorium to end on specific cannabis products such as edibles, vapes, and beverages. Some analysts are predicting that cannabis stock will rise after the moratorium ends.