Most of marijuana-related stocks have seen significant price increases on early Wednesday trading in anticipation of the formal legalization of cannabis products on June 9.
As of 12.00 hrs. local time in Thailand, the share price of DOD Biotech Public Company Limited (SET: DOD) rose THB0.70/share, or 10.77%, to THB7.20/share, with a trading value of THB62 million.
The share price of Gunkul Engineering Public Company Limited (SET: GUNKUL) rose THB0.20/share, or 3.39%, to THB6.10/share, with a trading value of THB784 million.
The share price of R&B Food Supply Public Company Limited (SET: RBF) rose THB0.50/share, or 3.21%, to THB16.10/share, with a trading value of THB121 million.
The production, import, export, distribution, consumption and possession of cannabis — with the exception of psychoactive substances — will be formally legalized on June 9 when an announcement issued by the Ministry of Public Health and published in the Royal Gazette on February 9 takes effect.
Except for extracts having more than 0.2% tetrahydrocannabinol (THC), all parts of cannabis and hemp plants will be removed from the narcotics list under the new legislation.
According to Capital Nomura Securities, the formal legalization of cannabis on June 9 will result in a significant increase in the value of upstream to downstream marijuana-related stocks. Recommend keeping an eye on the following stocks: GUNKUL, STA, RBF,DOD,KWM, SAPPE, ICHI, OISHI, OSP, TIPCO, TACC, CBG, MALEE, TKN, BC, RS, JKN, FN, and IP.
