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Cannabis Stocks Soar More Than 130% in Australia

  • Government has eased laws on imports of medicinal marijuana
  • Aussie stocks in the sector are up on average 136% this year
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Photographer: David Ryder/Bloomberg
Updated on

There’s a buzz in Australia’s stock market.

Shares of companies involved in the cultivation, production and research of medicinal marijuana have on average soared more than 130 percent in Sydney this year. That’s six times higher than their peers in the U.S. and Canada. The surge was sparked by Australia easing restrictions on imports of cannabis to treat illnesses from epilepsy to cancer.