Cannabis industry stocks soared on Tuesday as industry leaders made groovy predictions about their financial prospects and marijuana legalization in Washington. Shares in Canadian grower Tilray finished up more than 40 percent on Tuesday after Chief executive Brendan Kennedy mused to Bloomberg Television that he now expects more state and possibly federal legalization within “the next 12 to 18 months.” Kennedy made the comments while speaking about the company’s partnership with London-based Grow Pharma to distribute its medical cannabis products in the UK, which was also well received by investors. Canopy Growth saw its share price pop almost 12 percent after CEO David Klein also made optimistic comments about marijuana legalization under Biden, which he said could allow the Canadian company to enter the US cannabis market this year.

February, New York Post, 02/08/2021 19:00:00

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