POT STOCKS CAPTIVATE SWEDES
A Swedish January is dark, cold and snowy, but in Stockholm cannabis stocks were lighting up the screens of investors. “Out of nowhere, the interest for Canadian cannabis shares has completely exploded in Sweden,” said Joakim Bornold, a savings adviser at online broker bank Nordnet AB. Two Canadian cannabis firms, Aurora Cannabis and Canopy Growth, were among the top 10 most traded shares on Nordnet in January, he said. Bornold predicts the craze will cool. In total, about 50,000 Swedes traded in cannabis shares on Nordnet and Avanza AB during January, he said. “Trading in these shares will most likely continue, but not at this level,” he said. “It’s interesting that so many Swedes are prepared to invest in cannabis companies while very few according to polls want to legalize cannabis in Sweden. There doesn’t seem to be a problem in making money from it.”