Cannabis firms on a high

New York: Shares in North American cannabis firms were heading for new highs yesterday, with Redditinspired retail investors betting they could benefit from new legislation expected under US President Joe Biden.

Participants on the WallStreetBets forum on Reddit, which earlier inspired a price spike in GameStop that squeezed out Wall Street shortsellers who had bet on a price fall, have turned attention to US and Canadian cannabis firms.

US Vicepresident Kamala Harris said in the presidential campaign marijuana would be decriminalised under a Biden administration.