Pot Stocks Gain on Day 1 Channel Checks, U.S. Listing Plans
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Cannabis stocks are rebounding Thursday, gaining after a lackluster day Wednesday, as Canada’s recreational marijuana legalization looks to be off to a good start, and as two Canadian pot producers seek listings on the New York Stock Exchange.
Day one of recreational sales "appears to have been a success highlighted by the long lines and enthusiasm from shoppers," GMP Securities analysts led by Martin Landry told clients in a note, adding that "seeing cannabis shoppers wait in lines as opposed to take the traditional easy illegal supply route is refreshing and bodes well for the recreational market in Canada."