Licensed marijuana producer stocks are down as much as 15 per cent in a sector-wide sell-off a day after the Toronto Stock Exchange said firms with cannabis-related business activities that violate U.S. federal law could face delisting. Shares of Canopy Growth, Canada’s biggest licensed marijuana producer, fell as much as eight per cent, on the TSX. Read more: TSX to smoke out marijuana stocks that violate U.S. federal law On Monday, the TSX issued a staff notice that said U.S. federal law takes precedence over state laws, and issuers that violate the federal marijuana law are not complying with listing requirements. Article Continued BelowAphria said the TSX notice was “extremely broad” and that it was difficult to determine what, if any, impact it could have on its business. The TSX clarification had been anticipated by marijuana companies looking to get a foothold in the U.S. market as well as U.S. companies that want to access capital on Canadian markets.

Source: thestar October 17, 2017 18:33 UTC