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Why Maple Leaf Green World Inc (CVE:MGW) Declined Over 12%?

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In the last trading session, the stock price of Maple Green World Inc (CVE:MGW) declined more than 12% to close the day at $0.475. The decline came at a share volume of 1.02 million compared to average share volume of 302,128.

The details

The Ontario Securities Commission is denying to wade into a debated decision made by Canada’s leading stock-exchange operator that could witness some cannabis firms doing commerce south of the border kicked off of the nation’s two key stock markets. TMX Group Ltd. is assessing cannabis companies listed on either the TSX Venture Exchange or the Toronto Stock Exchange to know if any are breaching U.S. federal law, which bans the sale and use of the drug. The review, reported recently, stands counter to the structure Canada’s securities regulators planned for these companies around timely and accurate disclosure.

Even though the OSC, which is the nation’s leading securities regulator, stated it’s never considered an outright prohibition of these securities, it isn’t ready to intervene at this time. Huston Loke, who is the Director of Corporate Finance with the OSC, said that they are not in a position to speak on the procedures that the exchange will be looking at over the imminent few weeks. Each exchange is eligible to make decisions and prepares itself from a branding view in a way it appears fit.

Meanwhile, equities across the division plunged in the last trading session. Aphria Inc., possibly the most high-profile Canadian firm with businesses in the United States with stock on the TSX, saw its shares tumble 13%.

Shares of Maple Leaf on the TSXV declined 12%. Canada’s leading stock exchanges are on different page when it comes to the respective matter, adding to the confusion. The CSE continues to welcome companies with links to the U.S. cannabis segment, as long as they acquiesce with state law where they function and have told shareholders about the legal repercussion they could face by earning revenue tied to a medication that is illicit under U.S. federal law.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of journaltranscript.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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