DavidsTea Stock Rises Over Speculation On Marijuana Deal

With the cannabis business booming right now, it seems like every company associated with marijuana is experiencing a bit of a value bump (well, except maybe Tesla).

This trend was taken further this week after stocks for the Canadian beverage company DavidsTea Inc received a bit of a pot push over speculations that the company may consider partnering with cannabis companies in the future.

It’s been rumored that Canadian cannabis companies have been meeting with beverage makers in recent weeks, leading some to assume that DavidsTea will jump on the opportunity to collaborate.

This news comes after a considerable dip in the tea maker’s stocks last week when a major shareholder unloaded a number of shares due its critical view of the company’s co-founder. These recent gains suggest that such a partnership might be a smart move going forward.

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Ever since recreational cannabis was legalized for adult consumption across Canada in mid-October the industry has been struggling to meet demand. And that's not going to change anytime soon, according to Prime Minister Justin Trudeau. In a recent interview, Trudeau admitted that the chronic cannabis supply shortages have been the biggest challenge the newly legalized industry has been facing.