Interesting update from MJ Biz…The numbers aren’t huge but still interesting to see.
South Korea’s sovereign wealth fund bought up three Canadian cannabis stocks as they dipped to 52-week lows in the first quarter of 2020.
Though the value of the cannabis holdings is a modest $8 million, it is the latest sign the stigma associated with the legal industry is slowly eroding in international finance circles.
Seoul-based Korea Investment Corp. (KIC) added federally licensed Ontario producer Cronos Group to its portfolio, according to a disclosure filed with the U.S. Securities and Exchange Commission.
The KIC also increased its positions in Alberta-based Aurora Cannabis and Ontario-headquartered Canopy Growth.The sovereign wealth fund took on 45,800 Cronos shares, worth roughly $257,000.