Israel just took an important step to make it the next country to legalize recreational cannabis. If this happens, two young cannabis stocks could surge.
A bill to legalize recreational cannabis in Israel passed a critical test after being approved by the Ministerial Committee for Legislation.
According to The Times of Israel, this bill would decriminalize possession (up to 50 grams). It would also legalize individual possession of up to 15 grams among opening up other restrictions.
Here are some more details from The Times of Israel.
If the bill becomes law, selling and purchasing marijuana for personal use will be legal for those above 21 and authorized shops will be allowed to sell cannabis product, through growing marijuana at home will still be illegal. The legislation also outlined medical cannabis reform.
On Wednesday, the legislation is expected to be brought before the Knesset for the first of three votes it must clear in order to become a law.
The bill still has to jump a few hurdles, but the outlook is promising. Prime Minister Benjamin Netanyahu has found the leadership support needed for full legalization and has vowed to “resolve the issue of decriminalization and legalization.”
If the bill is passed – it would pave the way for Israel’s medical and recreational industry to flourish. If legalization pushes through, these two stocks are in position to benefit. Continue reading "Israel's Bid To Legalize Recreational Cannabis"