‘Wake ’n Bake,’ Plunging Stocks Greet Canada’s Legal Pot Debut

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Shoppers loaded up in Halifax, rolled giant joints at a “Wake ’n Bake” in Toronto and racked up a 100 online orders in a minute in Manitoba, as Canada became the first Group of Seven country to legalize recreational marijuana, giving it a massive head start in global pot market some peg at $150 billion.

Stores in St. John’s, Newfoundland were the first to sell recreational cannabis, followed by more than 100 outlets and websites opening across the country of 37 million people. It’s an historic moment for an industry that has rapidly moved from the fringe to the mainstream.

A resident holds marijuana products outside a store in Halifax.Photographer: Dean Casavechia/Bloomberg
“I’m super happy, this is an historic day for Canadians and for the world because we’re really setting a precedent here,” said Isaac Langille outside a store in Halifax, where he bought the legal limit of 30 grams, spending C$344 ($264) on products from Aphria Inc. and Organigram Holdings Inc.

Read full article here.

Kristine Owram, Doug Alexander and Jen Skerritt – Bloomberg – October 17, 2018.

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