Here's Why Sundial Growers, Tilray, and Other Cannabis Stocks Soared Today
Cannabis companies received a boost after Amazon (NASDAQ: AMZN) said it would support federal marijuana legalization efforts. Sundial Growers (NASDAQ: SNDL) and Tilray (NASDAQ: TLRY) rose 13% and 12%, respectively, on the news.
Amazon executive Dave Clark said in a blog post that the e-commerce giant would support the Marijuana Opportunity Reinvestment and Expungement Act of 2021, or the MORE Act. This legislation seeks to decriminalize marijuana at the federal level and expunge cannabis-related criminal records. Amazon also called for other businesses to support the bill.
"We hope that other employers will join us, and that policymakers will act swiftly to pass this law," Clark said.
Source Fool.com
