SynBiotic, a Munich based cannabis company recorded an increase of 33% on the Frankfurt stock exchange after the government disclosed its plans to legalize cannabis.
SynBiotic said it wants to use cannabis to treat conditions like chronic pain, stress and sleep issues.
Analysts have expressed that cannabis is poised for explosive growth in the coming years in Germany as cannabis legalization can generate between 3.4 billion and 4.7 billion euros of annual tax revenue and also create 27,000 employment opportunities.
The company now has a market capitalization of over 100 million euros.
