NZ's cannabis shares rally after move to decriminalise in the US

President Joe Biden issued a blanket pardon for federal offences for possessing marijuana. (Image: Getty)

Fri, 07 Oct 2022

Cannabis firms’ stocks are rallying on the local stock exchange today, after US president Joe Biden took his first major steps overnight towards decriminalising marijuana. Biden issued a blanket pardon on Thursday, US time, for all prior federal offenses for simple possession of marijuana and urged state governors to issue similar pardons for state offenses involving the drug. Some states have already decriminalised the drug, but it is still illegal at a federal level. Shares in the US rallied following the news. Nasdaq-li...

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