[Asia Economy Reporter Yoo Hyun-seok] Midas AI is showing strong performance. Expectations that marijuana use will be legalized in New York State, USA, have had an impact.
As of 1:41 PM on the 26th, Midas AI was trading at 523 won, up 1.36% (7 won) compared to the previous trading day.
According to media reports on the 25th (local time in the US), Liz Krueger, Chair of the New York State Senate Finance Committee, announced that she plans to submit a marijuana legalization bill to the legislature next week. According to the bill, possession and use of small amounts of marijuana will be permitted, and residents of New York State will also be allowed to cultivate marijuana.
Since the Democratic Party, which supports marijuana use, holds the majority in the New York State legislature, the bill is expected to pass smoothly.
With the expectation that a new large-scale marijuana market will open if the bill passes, the stock price of Midas AI, which operates marijuana businesses locally in the US, is interpreted to have risen.
Midas AI is conducting marijuana business in the California area of the US through its subsidiary Melrose Facility Management (MFM).
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