The Globe and Mail reports in its Wednesday, July 27, edition that Canopy Growth, the first marijuana producer in North America to graduate to a major exchange, erased early gains on Tuesday, closing down 1.2 per cent in its first day on the Toronto Stock Exchange. The Globe's Eric Lam writes that the stock, which previously traded on the TSX Venture Exchange, had surged 25 per cent during a three-day rally, reversing losses for the year. Canopy boss Bruce Linton says: "Being the first cannabis producing company in North America listed on a major exchange such as the TSX strengthens the sector. The addition of Canopy Growth helps signal that the world's view of cannabis has finally shifted, starting right here in Canada." Canopy is the first marijuana stock listed on the TSX, a spokesman with exchange operator TMX Group confirmed. PI Financial analyst Jason Zandberg commenced coverage of Canopy on Monday, along with peers Aphria, Mettrum Health and OrganiGram Holdings, with "buy" ratings for all four. Mr. Zandberg believes recreational marijuana sales will begin in Canada in mid-2018, with the combined recreational and medicinal market growing to $7.4-billion in five years.