Australia: 2 cannabis stocks that could smoke the ASX
Last February the Turnbull government passed legislation to legalise medicinal cannabis in news that provided a significant boost to ASX-listed ‘pot stocks’ like MMJ Phytotech Ltd(ASX: MMJ).
The company plans to cultivate cannabis on a commercial scale for use in various ‘medicinal’ products usually in the form of oral capsules, with a potentially huge global market of patients.
In fact if everything goes to plan for MMJ Phytotech the only thing higher than its share price could be the cannabis users.
However, shares currently sell for just 25 cents and the company has multiple regulatory and licensing hurdles to jump despite getting the green light to potentially distribute its pot product offerings into the Australian market.
It has a ‘farm-to-pharma’ strategy with cultivation facilities in Canada and clinical research facilities in Israel. The goal being to sell cannabis-based oral capsules for patients to take in helping treat a wide variety of medical...
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