Marijuana News Today: North American Marijuana Legalization Push Can’t Be Stopped

Marijuana News Today

Marijuana News Today

In the marijuana news today we have a huge jump for OrganiGram Holdings Inc (OTCMKTS:OGRMF, CVE:OGI) stock after the company applied to list on the Nasdaq. Meanwhile, Mexico is looking to become the next country to fully legalize marijuana.

This year, we’ve been heavily focused on marijuana legalization efforts taking place in the United States.

And for good reason.

We’ve arguably seen more progress in the first few months of 2019 in the U.S. than at any other time in marijuana history. From state houses pushing through marijuana legislation (without needing to hold a referendum to do it), to presidential candidates leading the polls while vowing marijuana reform, the time has come for a concentrated push for pot legalization in America.


South of the border, Mexico is already gearing up to become just the third country in the world (behind Canada and Uruguay) to totally legalize marijuana consumption.

Right now, it appears that Mexico is looking to have laws on the books permitting recreational consumption by October. (Source: “Recreational Marijuana to Enter the Mexican Market Before October,” Marijuana Stocks, April 29, 2019.)

This is, it goes without saying, another huge step forward for the global marijuana industry.

While not quite as juicy as the American market, Mexico has a gross domestic product (GDP) of over $1.0 trillion and a population of over 100 million people. This is a very lucrative market, and marijuana stocks will be invigorated if everything continues apace and legalization take effect.

Right now, it appears that there is little to prevent Mexico from heading full-steam into legalization, meaning we can expect pot companies to begin heavily targeting the Mexican market in the months and years to come.

Not to mention that we’ll see a few Mexican-based initial public offerings (IPOs) from pot companies operating in the country.

We’ve already seen a concerted effort by several prominent marijuana companies to enter the Latin American market; I can’t imagine that they won’t also take steps to gain a foothold in the Mexican market.

Overall, this is great news both for the near term and long term.

The more countries that legalize pot, the more that legalization becomes the norm and helps shift public opinion toward the conclusion that marijuana belongs in the same category as alcohol. That would certainly help build momentum behind the global cannabis market.

Meanwhile, in the short term, pot stocks will blossom with a whole new market opening up.


As mentioned earlier, one pot stock was clearly rising above the rest in the marijuana news today: OrganiGram. OGRMF stock found itself up about five percent in early-morning trading today, while the stock has gained about one point over the past five days.

Still, the stock is likely to generate even more gains down the road because the company has officially applied to list on the Nasdaq.

If OrganiGram is successful in doing so, it would only be the third pure-play marijuana stock to register on the Nasdaq; most of those companies have opted to list on the New York Stock Exchange (NYSE) instead.

The two other stocks that have found a home on the Nasdaq—Cronos Group Inc (NASDAQ:CRON) and Tilray Inc (NASDAQ:TLRY)—have enjoyed tumultuous runs, with CRON stock having soared in recent months.

Nevertheless, this is a long time coming for OrganiGram. It was one of the many reasons that I’ve been bullish on OGRMF stock for so long, and it will likely not disappoint.

The healthy five-point bump to start the day is nice, but I imagine that OrganiGram stock’s gains will only continue as it nears toward its Nasdaq listing.

It’s even more exciting, considering that the two other pot stocks on the Nasdaq have market caps of about $5.0 billion, while OrganiGram will hit the market with a cap of about $1.0 billion. That will make it a more affordable target for investors.

All in all, I’m very bullish on OGRMF stock in both the run-up to the Nasdaq listing and the aftermath.

TLRY Stock

Changing gears from bullish to bearish, we come to Tilray Inc., which continues to disappoint. TLRY stock remained flat to start the day and is up about one point over the past five days.

A new day, but the same old story: another stock analyst has lowered his price target for Tilray stock. Piper Jaffray Companies (NYSE:PJC) analyst Michael Lavery is the latest to hit the company with a downgrade.

Still, Lavery was overall positive: “We expect strong industry growth long-term, and we believe Tilray is well positioned to be one of several likely winners, especially given its relationships in medical (Novartis), in the US (Privateer Holdings), and in beverages (AB InBev).” (Source: “Tilray (TLRY) PT Lowered to $84 at Piper Jaffray, Continues to Believe in LT Strategy Focus,” StreetInsider, April 29, 2019.)

He continued, “…Tilray is less focused on near-term growth (i.e. cultivation capacity) than its competitors, but we continue to believe it looks well positioned for medium to long-term success.”

I’m less inclined to agree with him, though.

There is just too much bloat in TLRY stock for me to be bullish on it, especially compared to the great picks to be found elsewhere in the pot industry.

As such, I recommend that investors look at higher-growth-potential stocks before jumping in on a stock that has careened downward since its early days on the public market.

APHA Stock

Another company I’ve come to lose faith in over the past few months is Aphria Inc (NYSE:APHA). APHA stock fell about one percent in early-morning trading today, but is down over five percent in the past five days.

While Aphria no longer faces legal concerns as it had in the past (and its stock has registered strong gains in 2019), the company has not had a major win in over a year now.

Whether that be a big partnership or an acquisition, APHA stock has been quiet for a while and is very much in recovery mode after a disastrous 2018. Even its listing on the NYSE was rather underwhelming.

Much like Tilray stock, I don’t see how Aphria stock is a good option compared to so many other positive movers in the marijuana industry.

OGRMF, TLRY, and APHA Stock Performances

The performances of OGRMF stock (black line), APHA stock (blue line), and TLRY stock (red line) over the past week are seen on the chart below:

Chart courtesy of

Analyst Take

The marijuana news today is largely positive all around.

While the pot stock market wasn’t stellar to start the week, OGRMF stock has been rocketing upward on the news of its Nasdaq application. Meanwhile, Mexico appears poised to enter the legal marijuana trade, which is likely to be a huge boon for pot stocks.

In both cases, I’m very bullish on the top pot stocks and I expect to see big gains as we near the halfway mark of 2019.