Several pot stocks soared on Monday as the state of New York moved closer to legalizing recreational marijuana. Tilray (NASDAQ: TLRY) was the biggest mover, with shares jumping 12% as of 3:24 p.m. EDT. Aurora Cannabis (NYSE: ACB) shares were up 5.1%. Canopy Growth (NASDAQ: CGC) and Hexo (NYSE: HEXO) weren't too far behind, with the stocks rising 4.1% and 4.5%, respectively.
The momentum wasn't limited only to Canadian marijuana stocks . Shares of U.S.-based CBD pioneer Charlotte's Web Holdings (OTC: CWBHF) moved 2.1% higher after jumping as much as 5.5% earlier in the day.
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Why Canopy Growth, Hexo, Tilray, and Other Pot Stocks Soared Today