Israel: Tel Aviv Stock Exchange launches new index for cannabis companies

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The Tel Aviv Stock Exchange has launched a new index for nine medical cannabis corporate firms in an attempt to strengthen trade in the burgeoning sector. The new index will comprise shares of companies included the Cannabis Subsector, under the Biomed Sector.

Notably, the Middle Eastern country on the Mediterranean Sea, is a leader in marijuana research.

This year, the government gave approval to exports of medical cannabis, paving the way for sales abroad likely to produce hundreds of millions of dollars in revenue.

The new index includes nine companies that are predominantly engaged in the fields of research, cultivation, sale or production and marketing of medical cannabis products.

“Based on the committees that I’m part of, everyone is pushing for legalization to be passed. We already have a draft bill. My firm is already working with dozens of Israeli and international companies and investors in the growing marijuana sector,” said Hagit Weinstock, co-founder of the Tel Aviv-based Weinstock-Zehavi & Co. law firm.