CRON - Why Marijuana Stocks Triumphed on Monday
2023-09-11 18:47:28 ET
Cannabis stocks have become quite the hot item on the stock exchange lately, a trend that stretched into Monday's trading. A clutch of "green" companies saw their share prices improve on the first trading day of the week.
These included U.S. multi-state operators (MSOs) Curaleaf Holdings (OTC: CURLF) and Cresco Labs (OTC: CRLBF) , which rose a respective 10% and 8% on the day. Canadian weed companies also landed well in positive territory, with Organigram (NASDAQ: OGI) advancing at an 18% clip and Cronos Group (NASDAQ: CRON) rising by 9%.
It's no accident that these rises came just before the influential rules committee of the U.S. House of Representatives is set to meet on an appropriations bill. Although that bill covers the Department of Defense, like most large spending bills it also involves other economic sectors.
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Why Marijuana Stocks Triumphed on Monday