ACB - Why Aurora Cannabis Tilray Brands and SNDL Inc. Stocks Lit Up on Tuesday
2024-05-14 15:56:00 ET
Marijuana stocks are moving higher on Tuesday after Marijuana Moment reported on a new initiative in Congress that could give marijuana demand a lift. According to the weed-news source, the House Armed Services Subcommittee on Military Personnel is recommending the U.S. military cease testing recruits for marijuana use.
Weed stocks lit up in response. As of 2 p.m., Aurora Cannabis (NASDAQ: ACB) shares were up 6%, Tilray Brands (NASDAQ: TLRY) was up 6.8%, and SNDL Inc. (NASDAQ: SNDL) was doing best of all, scoring a 10.2% gain.
As Marijuana Moment reported, the subcommittee is drafting language for Congress' 2025 National Defense Authorization Act (NDAA), which would make this ban on marijuana testing federal law. If passed, it would represent yet another step in a whole series of steps approaching full-scale legalization of marijuana at the federal level .
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Why Aurora Cannabis, Tilray Brands, and SNDL Inc. Stocks Lit Up on Tuesday