ACB - Canopy Growth posts best intraday gain since 2018 as pot stocks rally

• Canadian cannabis company Canopy Growth ( NASDAQ: CGC ) jumped ~17% on Monday to record the best intra-day performance since Aug. 2018 as beaten-down marijuana stocks rallied in reaction to renewed prospects on legalization.
• About 13.4M of Canopy ( CGC ) shares have changed hands so far, compared to the 65-day average of ~7.1M.
• Other notable gainers include, MedMen Enterprises ( OTCQB:MMNFF ), Aurora Cannabis ( ACB ), GrowGeneration ( GRWG ) and TerrAscend ( OTCQX:TRSSF ).
• The upsurge comes after Bloomberg reported Friday that Senate Democrats are planning to introduce a long-anticipated bill as early as this week aimed at legalizing marijuana at the federal level.
• Meanwhile, the reports from Europe pointed to a multilateral meeting in which a joint resolution was signed by Luxembourg, Malta and Germany last week highlighting the requirement for cannabis reforms. However, the Netherlands, one of the participants of the meeting, preferred to abstain.

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