Day 2 marked by strong sales and customer interest

It’s day two of legal cannabis here in Canada and it looks like sales are off to a good start, according to Bloomberg’s Michael Bellusci. An analyst report that conducted some customer research and channel checks found “long lines and enthusiasm from shoppers” while sold-out signs were fairly commonplace, if not unsurprising given the pent-up demand. Cannabis stocks rebounded after a broad decline as investors warmed back up to the sector.

After Canada, who’s next to legalize?

It may have taken Canada nearly a century to legalize cannabis but it probably won’t take that long for another country to liberalize the drug. Tilray CEO Brendan Kennedy tells BNN Bloomberg that he expects as many as three more countries to take action to legalize recreational marijuana over the next 12 months. The Associated Press takes stock of how some countries have relaxed their laws on marijuana and identifies several nations such as New Zealand, Mexico and Italy that are on the path toward legalization.

Paving paradise to put up a pot grow op

One of the biggest benefactors of cannabis turns out to be the real estate sector. Bloomberg’s Natalie Wong reports there’s been a six-fold increase in the amount of pot-growing facilities to 8.7 million square feet in the year through September, with about 6.4 million square feet yet to be built. As cannabis suppliers try to meet surging demand, there’s a growing need for marijuana facilities, including greenhouses, indoor grow-ops and warehouses..

NYSE looks to gain two Canadian pot firms

The biggest stock exchange in the world is on the cusp of adding two Canadian cannabis firms to its roster. Aurora Cannabis announced Thursday that it will begin listing on the New York Stock Exchange on Tuesday, a day after the exchange certified its approval for listing. Meanwhile, Aphria submitted a filing to the SEC indicating its intention to list on the NYSE although a trading date and ticker symbol have yet to be announced. The listing moves on U.S. exchanges could draw significant interest from U.S. institutional investors who have so far steered clear of investing in the pot space.

OCS fixes mislabeling mistake on oil spray

You didn’t expect the first day of legal weed to be without a wrinkle or two, did you? The Ontario Cannabis Store had the unfortunate mistake of mislabeling a cannabis oil spray aimed to be used for female genital pain relief as something that was to be used orally. The product description was corrected by the OCS after The Canadian Press reached out for comment.

DAILY BUZZ

$835 million

The value in stock that iAnthus Capital Holdings said it will spend to acquire MPX Bioceutical Corporation

Cannabis Canada is BNN Bloomberg’s in-depth series exploring the stunning formation of the entirely new – and controversial – Canadian recreational marijuana industry. Read more from the special series here and subscribe to our Cannabis Canada newsletter to have the latest marijuana news delivered directly to your inbox every day.