AYRWF - Rally in cannabis MSOs fizzles ahead of House marijuana legalization vote

A rally in cannabis multi-state operators (MSOs) that began with Cresco Labs' (OTCQX:CRLBF -0.5%) March 23 announcement it was acquiring Columbia Care (OTCQX:CCHWF -1.3%) and continued through the end of last week following word of a House vote on marijuana legalization this week has come to an end. The biggest decliner of the bunch is MedMen Enterprises (OTCQB:MMNFF -9.4%), though Verano Holdings (OTCQX:VRNOF -5.0%), Green Thumb Industries (OTCQX:GTBIF -3.4%), and Ayr Wellness (OTCQX:AYRWF -4.8%) are also down significantly. Bloomberg Intelligence analyst Nathan Dean said that the though the legalization legislation will likely pass the House, it has little chance in the Senate. Other MSOs: Trulieve Cannabis (OTCQX:TCNNF -1.6%); Curaleaf Holdings (OTCPK:CURLF -3.3%); Acreage Holdings (OTCQX:ACRHF -1.7%); and Jushi Holdings (OTCQX:JUSHF -3.2%). Read why marijuana legalization will have a tough time getting though the Senate.

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Rally in cannabis MSOs fizzles ahead of House marijuana legalization vote