The vote count was released earlier in the week but Canopy Growth (TSX: WEED) Vice President of Communications Jordan Sinclair warned that a strike could lead to users turning to the black market.
The Horizons Marijuana Life Sciences ETF (TSX:HMMJ) rose 5.53% on September 18 as the ETF threatened to drop below the $20 mark in the hours following the announcement. The ETF is up 48% over the past month as cannabis stocks have roared ahead of the October 17 recreational legalization date.
Should investors be worried about a potential strike throwing a wrench into the rollout?
The rebound in cannabis stocks suggests that this temporary slide was likely nothing more than a buy-the-dip opportunity for traders. The Horizons Marijuana ETF is still an attractive hold ahead of next month’s big date.