Canada Marijuana Stocks Higher as Liberals Vow Legalization
- Justin Trudeau had pledged to legalize marijuana if elected
- Canopy Growth, Aphria, Mettrum among stocks seen benefiting
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Canadian marijuana stocks jumped after Justin Trudeau’s Liberal party clinched a decisive victory in the country’s election Monday, with a pledge to legalize the substance among his policy promises.
Canopy Growth Corp. increased 11 percent to C$2.43 at 10:38 a.m. in Toronto after climbing as much as 21 percent. Aphria Inc. rose 5.3 percent to C$1 and Mettrum Health Corp. gained 7.6 percent to C$1.98 after jumping 18 percent. The companies already produce marijuana for medical use, which is legal in Canada.