Walmart Inc’s (NYSE:WMT) Canadian arm is exploring the idea of selling cannabis-based products, as per a Reuters report.
"As we would for any new industry, Walmart Canada has done some preliminary fact-finding on this issue, but we do not have plans to carry CBD products at this time," said a Walmart spokeswoman to Reuters.
READ: Molson Coors’ Canadian arm closes deal with Hexo on cannabis-infused beverage line
Legalization in Canada is just a week away, taking effect as of October 17.
Shares of Walmart jumped 2% to $96.66 in Tuesday afternoon trading.
Contact Lenore Fedow at lenore@proactiveinvestors.com
Follow her on Twitter: @LenoreMariee