Why Aurora Cannabis, Canopy Growth, and Tilray Stocks Just Dropped
Marijuana investors are getting bummed out on Wednesday, as a stock market rally that roared early in the week begins to falter. As of 12:05 p.m. ET, both Canopy Growth (NASDAQ: CGC) and Aurora Cannabis (NASDAQ: ACB) are down about 5.5%, while Tilray Brands (NASDAQ: TLRY) suffers a smaller loss of 3.5%.
Partly, this sell-off is just a function of stock markets in general being down today -- but as it turns out, marijuana stocks may have a problem all their own.
As you're surely aware by now, there's a movement afoot in Congress to legalize marijuana at the national level. Things haven't gone entirely smoothly -- President Joe Biden, for example, seems still opposed to the idea. But by and large, even conservative legislators in Congress proper appear to be largely on board with the idea of legalizing weed in one form or another.
Source Fool.com
