Ever consider investing in medical marijuana on the stock market? Thanks to Canada’s Cannasat Therapeutics Inc., you can. Here’s the scoop:
Cannasat bills itself as one of a handful of companies in the world that is researching and developing medicines derived from cannabis plants.
Executives acknowledged at a media conference that the fledgling firm faces an uphill battle on many fronts — from the enormous cost and risk involved in developing new drugs to fighting a social stigma that conjures up images of police officers on pot busts pulling up rows of tall green plants and stoned teenagers getting “the munchies.”
“Does it give you a buzz?” a reporter asked at one point.
“This is not about fun. It’s about function,” said a stern Znaimer, who serves as chairman of Cannasat’s board of directors. “This is not marijuana that people come to because they’re looking for a good time.”
Shares of Cannasat, whose symbol is “CTH”, closed at 40 cents on the TSX Toronto Venture Exchange yesterday, up 15 cents from the day before. The stock has been trading on the junior exchange for about a week.
If one can buy stocks for pharmaceutical companies developing weed products, the next logical step is the ability to buy pot futures on the commodities market. However, one wonders how long it will be until the nitwits in D.C. make ownership of marijuana-related common stocks illegal for U.S. citizens. After all, marijuana stocks will have to be considered a gateway investment.