Tel Aviv Stock Exchange launched a new index for nine medical cannabis companies in an effort to stimulate trade in the growing, but not very mature, sector.
Israel is a leader in marijuana research and this year the government approved the export of medical cannabis, paving the way for overseas sales that were expected to bring in hundreds of millions of dollars in revenue. .
Medical cannabis processing
(Photo: Mor Bornstein)
The new index includes nine companies that are “heavily involved in the areas of research, cultivation, sales or production and marketing of medical cannabis products,” the stock exchange said.
While the index has a low market potential of NIS1.7 billion ($ 529 million), the bourse said it launched the index to identify trends and as a “benchmark for active money for each other which offers an emerging and growing experience for this sector ”.
Tel Aviv stock exchange
(Photo: Yaron Brener)
One high-profile player in the field of cannabis legislation in Israel is Hagit Weinstock, a lawyer specializing in cannabis regulation co-founded by law firm Weinstock-Zehavi & Co., based in Tel Aviv, and a member of several government committees. who are working to advance legal efforts.
“Based on the committees I sit on, everyone is pushing [for legalization] to pass, ”said Weinstock. “We already have a draft [bill]. ”
According to Weinstock, her company is already working with dozens of Israeli and international companies and investors in the growing marijuana sector.
Solicitor Hagit Weinstock.
(Photo: Courtesy)
“They have all signed up to confirm that this will be an issue that they are going to support, so there are no risks ahead no matter what government is in power,” Weinstock said.
The Knesset Health Committee is ready to consider and approve the change this week, which means products with CBD could soon appear on supermarket shelves across the country.