(MENAFN- Investor Ideas) Cannabis stock news bite - Canopy Growth Corporation (TSX: WEED ) (Nasdaq: CGC ) is leading the cannabis stocks on an impressive rally this week and today's trading is giving investors blockbuster gains.
The stock is trading at $6.16, up $1.60 or 35.09% in NASDAQ markets and trading at$8.36, up $2.20 or 35.71% on the TSX.
The rally was kicked off last Friday on possible changes in DEA decision on cannabis rescheduling based on requests from the US VP Kamala Harris.
The stock is moving today on news of the "German government's final approval legalizing cannabis, as well as advancing a clear victory for enhanced medical cannabis access of high-quality cannabis extracts and pioneer of clean vape technology."
Canopy Growth reported "As of April 1, 2024, cannabis will officially be recognized as a non-narcotic in Germany, marking a monumental shift in the legal treatment and cultural acceptance of cannabis. This landmark decision will enable adult German consumers to consume cannabis legally and without fear of prosecution.
In addition to the cultural significance of Germany's cannabis legalization progress, these changes present a unique opportunity for Canopy Growth to expand its commercial presence in the country through the German-based and world renowned Storz & Bickel vaporizer brand, as well as the Company's medical cannabis product offerings through Canopy Medical which collectively position Canopy Growth as a top three player in the German cannabis industry.
Read the company's full news and disclaimer here:
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