One Big Reason Marijuana and CBD Stocks Rose on Monday
The prices of several notable marijuana stocks bumped higher on Monday following an update on U.S. legalization from Canadian bank CIBC (NYSE: CM). Formerly skeptical about the prospects for legalization at the federal level, CIBC's team of analysts now believe this could occur as soon as next year if Joe Biden is elected president and Democrats win control of Congress.
That provided a nice high for investors in traditional marijuana plays Curaleaf Holdings (OTC: CURLF), Green Thumb Industries (OTC: GTBIF), and cannabidiol (CBD) specialist Charlotte's Web Holdings (OTC: CWBHF). At their peaks on Monday, the three stocks were up a respective 9%, 5%, and 5.6%.
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Source Fool.com
