As with many of the Prime Minister’s promises, timing is becoming an issue. Justin Trudeau’s marijuana promises became a bit more elusive on Tuesday after it appeared recreational marijuana legalization will not be secured this spring.
Marijuana-related stocks (“pot stocks”) have declined in the wake of this news as almost all the key names collapsed on the TSX and the TSX Venture.
“Lawmaker Bill Blair — the former Toronto police chief leading Trudeau’s legalization effort — confirmed a bill is due in parliament this spring, but it won’t be the last hurdle as ample regulatory work remains. The federal government will take its time and work with provinces, territories and cities to build a framework and develop specific regulations, he said.”
Trudeau is losing support among some of his strongest constituents as promises fall short and delays hamper his ability to deliver on time. This delay in legalizing marijuana is the latest blow to his reputation. Trudeau’s support in the polls has declined significantly in recent months but remains relatively high nationally.