Medical cannabis company starts trading on a high

Medicinal marijuana company Phytotech Medical has made a stellar stock market debut in Australia, with its shares doubling in value.

Shares in the Perth-based company surged from their 20 cent issue price to a peak of 40 cents within minutes of hitting the boards at 1400 on Thursday.

The Perth-based company's stock market listing coincides with its attempt to break into the multi-billion dollar US market. Medicinal marijuana is legal in several states.

Phytotech is also targeting Canada, Israel and Europe and hopes