When most people think about getting rich off of marijuana, it usually involves some kind of illegal distribution model. If you're living in Toronto, though, getting rich off of weed can be as easy as playing the stock market.
This Wednesday, the Toronto Stock Exchange got hit with some weed, aka the new ticker for the Canopy Growth company, which is based in Ontario. Bruce Linton, the CEO of Canopy Growth, told Bloomberg that he was "thrilled to be marketing WEED" on the Toronto Stock Exchange.
If you're looking to rake in the dough with WEED, though, you'll have to wait. The company doesn't have a net profit at this time. It is currently valued for around $1.2 billion, however, and it's shares closed at $10.05 at the close of trading on Wednesday, which is a 2% increase.
Canopy might not be the only company getting their feet wet on the TSX either. With Canada getting closer to legalizing weed for recreational use, it might not be long before more marijuana-related companies start blowing up. And then you can get high while all of your stocks rise...in Canada.
