Canada’s Small Financial Firms Get Buzz From Weed Stocks


Pixabay / geralt / CC0 Creative Commons

Investors are betting Canada’s smaller financial firms could see a jump in revenues after they helped fund marijuana companies ahead of the country’s planned legalization of the drug this year.

Equity offerings by Canadian weed companies tripled to a record high of nearly $1 billion in 2017, with nearly two-thirds of that in the final quarter, data from Thomson Reuters showed.

Much of the issuance for pot producers has been led by small independent brokers, such as Canaccord Genuity Group Inc.

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