Assuming the law is passed allowing people to poison me with 2nd hand psychotropic smoke... and i think it will... these should be worth more immediately after the law passing, due to sentiment.

However, these companies are not well understood by investors, and businesses in this sector are often badly run in my experience (who'd have thought!). Additionally, anything to do with medical research carries risk (i.e. it may transpire after some completely unbiased research that a joint a day keeps the doctor away, but only a particular strain that isn't stocked by the cannabis company you invested in - sorry. Or even that it's not accepted by mainstream doctors - look at nzx.peb).

Also, I expect these to be overpriced shares because of popularity from folk that don't know how to do a valuation but think that is a good investment and place a bid at the market price, whatever it is.

I imagine they'll end up with not much institutional investment in the very long term because of this.

On a side note: I just think it's great when the govt ask the public for the answer to policy questions that require scientific knowledge and research that Joe Bloggs couldn't possibly be able to answer, but has a poorly founded and strong opinion about (fluoride). It's even better when they ask the public to make decisions on whether or not to do something without informing them how it will be done (brexit). And great to know that all of the above happens because someone wants to get ahead politically, at any cost (Jacinda and cannabis), and that the system allows this (mmp coalitions). I already love that as a non smoker, when my neighbor smokes, he kindly shares that with me every time i leave my windows open. I can't wait to get into something as healthy as cannabis is going to be for me.