Last week, Kamala Harris pledged that if elected, the Biden administration would decriminalize marijuana. Many weed stocks popped on that pronouncement.
That was then; this is now. Marijuana stocks had an awful Thursday. Bellwether Aurora Cannabis (NYSE: ACB) declined by 5.5% on the day, HEXO (NYSE: HEXO) slipped 3.5%, and cannabidiol (CBD) specialist Charlotte's Web Holdings (OTC: CWBHF) won that three-horse race to the bottom with a 7.5% slide.
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Why Marijuana Stocks Aurora Cannabis, HEXO, and Charlotte's Web Went Up in Smoke Today