Today, Canada’s cannabis companies are the only ones that trade on U.S. exchanges, but their businesses have struggled amid rampant oversupply. While U.S. cannabis companies are performing much better financially than their Canadian counterparts, their business is still illegal at the federal level, leading to all sorts of tax and cost burdens. Perhaps a better place for cannabis investment is another country altogether. What’s more, this country has the highest global cannabis usage rate as a percentage of the population: Israel. The growing Israeli market may get more attention soon, as Canada-listed SPAC Subversive Real Estate Acquisition recently announced plans to acquire Israeli cannabis company InterCure bringing the leading Israeli cannabis business onto the Toronto Stock Exchange, with an eye toward applying for a Nasdaq listing as well.
420 Intel – Marijuana Industry News, 04/11/2021 20:00:00