Colin P said:
I respect the people who went the route to get pot legalized. I still think they utterly stupid for using it, but I support their right to be stupid. I suspect that it will lead to legal issues for people traveling internationally and I will also enjoy the wailing about "Big Pot" in 15 years or so. Not to mention smirking as the ex-undergrounders try to open for business and discover the joys of dealing with Bylaw Officers who will make dealing with the cops look like the "good old days" when cops turned a blind eye.
I don't get that personally.
Canadians are already some of the highest users of pot.
Nearly 5 million Canadians consume pot
More older Canadians, including senior citizens, are using marijuana as fewer minors consume the substance, according to a new study released Monday by Statistics Canada.
So these people are already travelling internationally, crossing borders, talking to border security. I'm sure they wont suddenly start blabbing to border security of other countries about their pot use just because it's legal on Oct 17th.
As for the ex undergrounders, in ontario and quebec, pot will be sold using government run stores, like the LCBO in Ontario and the SAQ in Quebec. The ex undergrounders wont be opening up shop, and I'm sure if the government hears that some stores are trying to cut into their monopoly, the crackdown will be swift and quick. As far as I can tell, there a a handful of companies already on the market ready to supply the pot, and the government pot agencies will most likely deal with them. These companies have a massive head start, as they were in business selling medical marijuana for a few years now.
That said, I'm biased, as I've invested a fair chunk of money in Canadian Cannabis since Trudeau was elected, and even though I don't use the stuff, I am sure going to profit from it.
The Canadian Marijuana Index, an aggregate measurement of all publicly-listed marijuana stocks in Canada, was up 3.34% as of 10:45 a.m. on Wednesday. The overall North American index, which includes US stocks, was up 2.28%.
Golden Leaf Holdings, a Canadian Securities Exchange-listed cannabis company, was the biggest gainer with the stock surging 6.81%.
Overall, legalized marijuana is expected to be a boon for Canada's economy. CIBC, one of the country's largest banks, predicts Canada's legal marijuana market will be a $6.5 billion industry by 2020.
And to note, Canada is a world leader in this. If we can get up and running before everyone else does it, we are in a prime position to be a major exporter of marijuana when other western countries get on board.