Shopify Inc., which is providing point-of-sale and e-commerce services to cannabis retailers, led declines midday, followed by medical pot producer Tilray Inc.
While #legalizationday, #canadacannabis, #legalizationincanada and #weedwednesday were trending on Twitter early Wednesday, many news outlets around the globe such as CNN, BBC, The Guardian, and more, carried headlines with the historic news.
You can not bring weed legally purchased in Canada back into the United States.
As laws surrounding recreational marijuana slowly change state by state in the United States, Canada as a country has just legalized the substance.
Canada legalised medical marijuana in 2001, and many in the industry spent the last days of prohibition completing displays, holding mock openings and training employees to use sales-tracking software.
Residents of the far-eastern province of Newfoundland and Labrador were the first to be able to legally buy marijuana as shops opened at the stroke of midnight.
While numerous States in the US have legalized at the state level, including Colorado, Washington, Oregon, Alaska, Maine, Massachusetts, Nevada, Vermont and California, federal law still prohibits cultivation, possession and sales of the plant.
Cannabis will now be sold in stores and ordered online, with the drugs posted to customers' homes.
Tom Clarke, who sold marijuana illegally for 30 years, was also one of the first to make a legal sale in Canada. The most populous province is working on its regulations and doesn't expect pot shops to open until next spring.
British Columbia, which plans both province-run and private outlets, has only one government store 350 kilometres (220 miles) from its biggest city, Vancouver.
The Canadian purchases of USA -based firms follows Canada's nationwide decriminalization of marijuana.
"Kamloops just seemed to be the right place at the right time, where they had the zoning in place, they had a store location that was ideal for what we wanted to do", he said.
Who Can Buy Marijuana In Canada?
Genevieve had bought weed with a low level of THC, the psychoactive agent in cannabis, referring to it as "the bomb" before returning with friends on Thursday to buy more. "It took decades for the public to understand the risks of cigarettes, and the legalization of cannabis has taken place only over a few years", Bernard Le Foll, clinician scientist at the Center for Addiction and Mental Health in Toronto told the Times.
"I can't believe we did it".