Investor interest could shift to the US market this year
However, US investment in cannabis related areas will not only pick up in Canada but in the US as well. According to the Financial Post recreational marijuana is already legal in 10 states as well as Washington DC but is still banned at the federal level. Medical marijuana is legal in 33 states.
The market has expanded dramatically as well as hemp can now be legally grown in the US as reported in a recent Digital Journal article.
Alfred Avanessy of Cormark Securities which has cannabis as its biggest source of business in Canada said: “Investors’ imagination is being captured more by what’s possible in the U.S. The U.S. is a couple years behind us from a regulatory perspective and it’s also by definition 10…