Why Aurora Cannabis Stock Is Sinking This Week

The stock of Canadian cannabis company Aurora Cannabis (NASDAQ: ACB) has had an up and down week. Shares jumped more than 6% on Tuesday morning alone, yet the stock looks like it will end up with a double-digit decline for the week.

Fellow Canadian grower OrganiGram Holdings (NASDAQ: OGI) reported its fiscal third-quarter 2021 financial results on Tuesday, and strong sales growth sent investors flocking to other marijuana sector names anticipating more good news. But a newly proposed bill from Sen. Chuck Schumer, a New York Democrat, to decriminalize marijuana in the U.S. received a chilly reply from the White House yesterday. That response reverberated with investors throughout the sector.

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Source Fool.com