In Israelכלכלה

The Securities Authority is expected to examine the activity of the cannabis shares on the stock exchange

Cannabis has learned that the authority responsible for the Israeli stock exchange will soon be expected to examine public companies that have issued themselves as cannabis companies while publishing seemingly inaccurate information. Meanwhile, the value of the shares continues to rise, against the background of the expected approval of Cannabis exports abroad and the launch of Cannabis' pilot in pharmacies.

7 Public companies are currently traded on the Israeli stock exchange, while they present themselves as cannabis companies - 2 of them (Medivie and Together) have already started at the end of 2017, with additional 4 (Amir Marketing, Ophectra, And Next Gen joined the field last week and another one (Direct Capital) today.

Many of these companies operate fairly and with sincere intentions to enter the industry, at least it seems so, but others raise concerns among some investors that this may be an easy way to earn economic value without a real basis.

Since cannabis is a particularly spicy subject and seems to be gaining momentum in the next few years, any announcement to the stock market that includes the word cannabis immediately becomes popular and special - allowing the stock to be "inflated" with theoretical statements only.

But after sharp rises in the value of these shares on the stock exchange, a steep drop of tens of percent in their value came last week After the publication of an article on the subject In Cannabis magazine, which exposed some of the alleged inaccurate reports of some of these companies.

When listed companies published such reports in the Blockchain field, for example ISA (Securities), which is responsible for the proper conduct of companies traded on the stock exchange, on sanctions for companies that defined themselves as operating in the field of cryptographic currencies.

We now publish that the Cannabis shares are also expected to be examined by the Israel Securities Authority for the first time, in part because of the publication of the report in the magazine.

However, the ISA clarifies that the actions carried out by it are subject to various confidentiality and confidentiality obligations, and therefore it is prohibited from providing additional information regarding its activities in this framework.

"If and to the extent that it is possible to publicize, in accordance with the law, these actions and / or their results, disclosure will be made in their publication in the MAGNA system and / or on the Authority's website".

It added that "the companies engaged in cannabis are supervised like the other public companies", and that any information on this subject is transferred to the professional bodies responsible for the matter.

It should be noted that after the steep drop in value last week, shares rose back to their original position at the beginning of the week, partly due to the following The message On the expected approval of the export of medical cannabis abroad on Sunday (15.4) - which validates their activity without which they have no real value.

In addition to the first published in Cannabis magazine Last month, Is expected to begin in about a week, a pilot of cannabis sale at 20 pharmacies, mainly in the Super-Pharm chain. The cannabis products to be sold under the pilot - from the raw material of companies that have received or will receive the IMC-GAP standard and in the factory that holds the IMC-GMP standard.