CURLF - Why Sundial Growers Green Thumb Industries and Curaleaf Tanked Today
Shares of Sundial Growers (NASDAQ: SNDL) , Green Thumb Industries (OTC: GTBIF) , and Curaleaf (OTC: CURLF) fell hard today, down 8%, 8.6%, and 7.6%, respectively, at the end of trading.
U.S. cannabis stocks Green Thumb and Curaleaf had actually rallied on Friday, believe it or not, but are reversing those gains today. That's because Senator Chuck Schumer attended a cannabis rally in New York on Friday, in which he hinted that a possible bipartisan legalization bill is still a possibility. Schumer has been working on a bill that could legalize marijuana at the federal level, and announced he had been in talks with six Senate Republicans on the issue.
However, with the market crashing today and selling off anything risky, these cannabis names gave back their Friday gains. Meme stock Sundial, a Canadian company with its own issues , is still well below Friday's levels.
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Why Sundial Growers, Green Thumb Industries, and Curaleaf Tanked Today