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Why Aurora Cannabis Stock Gave Up Some Gains Today

TheMotleyFool

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Why Aurora Cannabis Stock Gave Up Some Gains Today: https://g.foolcdn.com/editorial/images/748436/marijuana-plants.jpg

Shares of cannabis companies Canopy Growth (NASDAQ: CGC) and Aurora Cannabis (NASDAQ: ACB) both plunged more than 10% in early trading Thursday morning. Canopy Growth quickly recovered most of its losses, and as of 10:30 a.m. ET today is only down about 1.8%.

Aurora Cannabis didn't and is still down a depressing 7.2%. The question is why. And the answer seems to be: Congress.

The U.S. Senate is currently preparing the Secure and Fair Enforcement (SAFE) Banking Act for a vote. If passed, the law would make it easier for banks to provide services to marijuana businesses, a positive for marijuana stocks.

Source Fool.com

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