Canadian cannabis stocks are the latest fad for Swedish investors.
During winter, Sweden is known to be dark and cold. However, the country has seen the winter months lit up by the buzz surrounding cannabis stock.
Savings advisors from online broker bank Nordnet AB, Joakim Bornold, stated that Canadian stock has been growing in Sweden.
“Out of nowhere, the interest for Canadian cannabis shares has completely exploded in Sweden.”
Canopy Growth Corp and Aurora Cannabis Inc., two of Canada’s largest cannabis companies were amongst the highest traded shares in Sweden this January. Usually, the top 10 consists of Investor AB, Hennes & Mauritz AB, Nordea Bank AB and Ericsson AB.
Normally Swedish investor markets consist of 3D-printing, biometric sensor companies, and Bitcoin.
However, marijuana has invoked itself as the latest market money maker. Sweden is not alone in its marijuana investment, investors from many other countries are beginning to view the cannabis market as lucrative.
“That’s where the money is, if there’s a will to continue legalizing markets.”
Bornold continued his statement saying if the wind turns, that gigantic market will close as fast as it opened.
Interestingly, even though Sweden will most likely be one of the last countries on Earth to legalize marijuana, whether medicinal and recreational, local stocks have increased substantially.
“Heliospectra became involved in the rush due to the so-called Klondike thesis”
The Klondike thesis is based on the difference in income. Instead of the gold diggers making most of the money, the majority of the profits goes to the retailer of the shovels.
It is predicted that although the year began extremely well, the madness will soon calm down. The trading of the shares will definitely continue, but not at that level. It is amazing that so many people in Sweden are willing to bank their money on marijuana shares, but many are adamant that it should not be legalized in the country.