Pot Stocks Climb to Record Highs With Canadian Legalization Imminent

(Bloomberg) -- Several marijuana stocks received a late boost into Monday’s close, ahead of Wednesday’s legalization of recreational use in Canada.

While shares of most pot companies outperformed throughout the day, the last few minutes of trading saw stocks including Aurora Cannabis Inc. and MedMen Enterprises Inc. reach all-time highs.

Marijuana giant Canopy Growth touched an intraday record of C$74, but closed just a few cents off its highest closing price.

Cannabis ETF Horizons Marijuana Life Sciences closed 7.5 percent higher and ETFMG Alternative Harvest rose 8.3 percent.

To contact the reporter on this story: Aoyon Ashraf in Toronto at aashraf7@bloomberg.net

To contact the editors responsible for this story: Courtney Dentch at cdentch1@bloomberg.net, Morwenna Coniam

©2018 Bloomberg L.P.