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Cannabis Summary for Oct. 25, 2021

2021-10-25 20:09 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index added a fraction to 131.82, while the CSE Composite Index lost 2.59 to 586.68. International cannabis circles spent the weekend eyeing political talks in Germany. Following last month's federal election, the three parties on track to form the next government began official coalition negotiations late last week. "As coalition talks progress here in Germany," stated yesterday's DW News (an English-language German public broadcast service), "there's one thing the three parties hoping to govern together do agree on -- legalizing cannabis."

The parties are the centre-left Social Democrats, the Greens and the business-friendly Free Democrats. All three have voiced support for recreational cannabis legalization (medical cannabis has already been legal since 2017). The Social Democrats' support is relatively mild, but to win over the fiercely pro-legalization Greens and Free Democrats, they will willingly cede ground on this issue, say pundits. The parties are hoping to complete their talks and form a government by Christmas.

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