Written by Adam Othman at The Motley Fool Canada
There’s no doubt that the cannabis industry has plenty of potential upside. With more markets worldwide legalizing cannabis for medicinal or recreational use, companies aiming to target international growth have more opportunities.
Canadian investors interested in cannabis stocks saw a massive boost with the announcement of the Biden administration across the border announcing the decision to classify marijuana as a less dangerous drug. Combined with the news that Germany might legalize marijuana as well, shares of the top TSX marijuana stocks soared.
Between April 1 and April 30, 2024, shares of Canopy Growth (TSX:WEED) doubled in price. Between April 29 and April 30, shares of Tilray Brands (TSX:TLRY) climbed 41%. However, going all-in might not be the smartest investment decision despite the seemingly positive news.
Getting too excited for legalization
This…
