ACT legislative assembly legalises cannabis. What are some Australian pot-stocks to watch?

Canberra has become the first state or territory in Australia to legalise cannabis.

Though not a complete decriminalisation of the drug, the ACT Legislative Assembly has passed a bill permitting growing cannabis for personal consumption. The law will come into effect on 31January 2020.

Although not a complete lift on the ban-on-bud, and with the law potentially clashing with Federal legislation, the developments in Canberra continue a gradual process of relaxing regulations and different prohibitions on cannabis by Australia’s state and territory governments.

Top 5 Australian marijuana stocks to watch

As pot grows into the mainstream, several ASX listed companies are positioning themselves to take advantage of the burgeoning industry. Here are 5 high profile cannabis companies to watch – and potentially trade.

AusCann Group (AC8)

AusCann Group is a holding company that, through its subsidiaries, develops and sells cannabis based pharmaceutical products. These products includes a variety of cannabinoid medicines, that are used in treating convulsions, neurological disease and glaucoma; and helps manage symptoms of inflammation, loss of appetite, chronic pain and nausea.

Althea Group (AGH)

Althea Group is a holding company that, through its subsidiaries, operates as an importer and producer of medical cannabis products. The company specialises in products that are designed to help people suffering with debilitating and chronic medical conditions. Based in Melbourne, Australia, Althea Group serves primarily an Australian market.

Cann Group (CAN)

CANN Group is a specialty pharmaceuticals company that produces and supplies medical cannabis products throughout Australia. The company specialise in the research, cultivation and production of medicinal marijuana, with the express purpose of manufacturing cannabis products that aid in the treatment and management of a range of diseases and medical conditions.

Cann Global (CGB)

Cann Global is a medicinal cannabis and hemp seed foods company. The company also has an involvement in bauxite mining and exploration. With strategic partnerships throughout Canada and New Zealand, Cann Global’s business model is to provide medical practitioners, patients and consumers with cannabis based products and cannabis-related education.

Elixinol Global (EXL)

Elixinol Global Limited is a classified as a health care supply chain company that manufactures and distributes pharmaceutical cannabis products. Operating on a worldwide scale, with several subsidiaries in Australian and around the globe, the company specialises in hemp and medicinal cannabis based dietary supplements and skin care products.

Start trading marijuana stocks with an IG trading account

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

Don’t miss opportunity on cannabis markets

Take advantage of volatility in this rapidly growing market:

  • Go long or short on cannabis shares, ETFs or our cannabis index
  • Get 10:1 leverage on our cannabis index, and from 4:1 on cannabis stocks
  • Protect against risk with stops and other tools
Find out more

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.