CGC - Why Tilray Cronos and Canopy Growth Stocks All Popped Today
2024-03-22 12:02:56 ET
Marijuana stocks are closing out the week on a strong note Friday, with shares of Cronos Group (NASDAQ: CRON) up a solid 5% through 10:50 a.m. ET, and Tilray Brands (NASDAQ: TLRY) and Canopy Growth (NASDAQ: CGC) doing even better -- up 11.8% and 26.6%, respectively.
U.S. news is part of the reason for investors' renewed enthusiasm for cannabis stocks -- earlier this week, Vice President Kamala Harris spoke approvingly of administration efforts to reduce federal regulation of marijuana. But arguably more important for marijuana investors is what's happening right now in Germany.
Steve Symington wrote about the U.S. aspect of this story earlier this week , after Harris told reporters it's time for the United States "to legalize marijuana," and that the first step toward doing so is to reschedule the drug from a Schedule I narcotic to a less dangerous Schedule III controlled substance instead -- as the U.S. Department of Health and Human Services recommended doing last year .
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Why Tilray, Cronos, and Canopy Growth Stocks All Popped Today