The Oklahoman

Sweet leaf or sour diesel?

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Marijuana growers are attracting more attention from investors, and the results are anything but mellow.

Canada will legalize retail marijuana in October, and major U.S. beverage makers are starting partnershi­ps and making investment­s in companies across the border. 2%0<676 6%< 7,) market in Canada is worth billions, and investors are tantalized by the possibilit­y of future legalizati­on in the U.S. and other countries.

But pot companies have limited track records, and their stock prices have swung wildly. Tilray, a company based in British Columbia, became the first marijuana company to go public on a major U.S. stock exchange in July. Its stock started at $17, and last week alone it traded between $114 and $300 a share. *7)5 % 7,5)) (%< 236)(-9) -7 finished at $99.50 on Monday.

Cronos Group and Canopy Growth have roughly doubled in value since the end of July, with huge swings along the way. Canopy and Tilray are both valued at more than $10 billion, similar to retailers like Macy’s and Gap, which have tens of billions of dollars in annual sales.

Marijuana is illegal in the U.S. at the federal level, but it’s legal for recreation­al use in nine states and Washington, D.C., and for medical use in 31 states, according to the National 32*)5)2') 3* !7%7) )+-60%

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