MSOS - Pot stocks heading for Q1 gains amid state legalization
In a historic week, New York signed into marijuana bill and New Mexico’s legislature approved adult-use cannabis legalization acts.Since January’s Georgia Senate runoffs, U.S. cannabis stocks have seen a series of peaks and troughs as investors await industry friendly legislation and more institutional backing.Also, demand for legal marijuana is expected to surge rapidly due to changes in government policies.In Q1 ended March 31, 2021, Tilray (TLRY) stock gained over 170%, Organigram Holdings (OGI) also surged over 170% during the same period, aided by a $175M investment from British American Tobacco.Aphria (APHA) also jumped 157% whereas Canopy Growth (CGC) advanced 30%. Sundial Growers (SNDL) was also 132% higher in first quarter ended March 2021.Aurora Cannabis (ACB) grew around 10% while HEXO (HEXO) rallied 76% and Cronos Group (CRON) was up 36%.Also, Senate Majority Leader Chuck Schumer indicated that he would soon propose a bill to end the federal prohibition.On the federal front, both Schumer’s move and the SAFE Banking Act, which would allow
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Pot stocks heading for Q1 gains amid state legalization