The stocks of Canadian pot growers have been on a tear since the start of 2021. Much of the excitement has come from news outside the companies' home border, and that's no exception today.
Shares of Tilray (NASDAQ: TLRY) , Aphria (NASDAQ: APHA) , and OrganiGram Holdings (NASDAQ: OGI) are showing particular strength today. As of 11:30 a.m. EST, shares have moved as follows:
Those three stocks have all soared in 2021 between 225% to more than 360%. Much of the excitement has been on the continued trend toward marijuana legalization in the U.S. Most recently, the Virginia state assembly passed legislation to legalize marijuana for adult recreational use. The process still has more to go before it could be signed into law, but it's another sign of the pendulum swinging in the U.S., where federal legalization would have significant ramifications for Canadian growers.
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Why Tilray, Aphria, and OrganiGram Stocks Are All Soaring Today