Marijuana stocks are getting hammered because of a do-or-die legalization vote in Canada

Business Insider | 3/22/2018 | Jeremy Berke
maye (Posted by) Level 3
Click For Photo: https://amp.businessinsider.com/images/5ab3d50ce0af5822008b48a3-750-375.jpg

A marijuana cultivation facility in Canada. Andrew Szeto/Tweed, Inc.

Canada's marijuana legalization bill is facing a crucial vote in the Senate Thursday afternoon.

Bill - Timeline - Legalization - Government - Bill

If the bill fails, it would push back the timeline for legalization and force the government to re-write the bill.

Marijuana stocks are getting slammed ahead of the vote.

Analysts - Bill

Analysts don't think it's likely the bill will fail.

Canada's marijuana legalization bill is facing a do-or-die vote in the Senate Thursday afternoon, and related stocks are getting slammed.

Bill - Effect - Summer - Senate - Floor

The bill is set to go into effect as soon as this summer, provided it doesn't get killed on the Senate floor.

The North American Marijuana Index, a measurement of all publicly-listed marijuana stocks in Canada and the US, was down 3.91% as of this writing, over fears Prime Minister Justin Trudeau's Liberal party would not have enough votes to overcome Conservative Party opposition to Bill C-45. The bill, if passed, would legalize the consumption and sale of marijuana nationwide.

US - Senate - Body - Trudeau - Bill

Unlike in the US, the Canadian Senate is an appointed body so it's unlikely that Trudeau would allow the bill to go to a vote if there was a chance of it failing.

Analysts in the marijuana industry aren't too concerned the bill...
(Excerpt) Read more at: Business Insider
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