Cannabis Investment Club

[JohnCM]

Pot stocks rise in premarket after Mexico passes bill to legalize recreational use

Mar. 11, 2021
By: Dulan Lokuwithana, SA News

Mexico's lower house has voted 316 votes to 129 in favor of a bill that would legalize the recreational use of cannabis.

President Andrés Manuel López Obrador's party is confident that the bill will next pass the final vote at the Senate which could make Mexico the third country in the world, after Uruguay and Canada, to permit recreational use of cannabis nationwide.

The law will allow users with a permit to carry up to 28g and grow as many as eight plants at home for personal use. Currently, it is illegal to carry more than five grams.

According to Reuters, it would also grant other licenses allowing cultivation, transformation, research, and export or import of cannabis.

Related tickers: Aphria (APHA -2.3%), Tilray (TLRY -1.3%), Canopy Growth (NYSE:CGC), GrowGeneration (GRWG +1.8%), Aurora Cannabis (ACB -4.4%), ETFMG Alternative Harvest ETF (MJ -0.8%), Khiron (OTCQX:KHRNF), Clever Leaves (NASDAQ:CLVR)