Why Aurora Cannabis and Tilray -- but Not Curaleaf -- Wilted on Monday
Marijuana stocks as a class rallied strongly last week as investors found good news in the earnings reports of Canopy Growth (NASDAQ: CGC) and Aurora Cannabis (NASDAQ: ACB) -- and perhaps a bit of hope for federal marijuana reform after Democrats' stronger-than-expected showing in the midterm elections.
This week, however, investor enthusiasm for the cannabis sector seems to have gone wobbly. While they initially rose strongly -- by as much as 5% in early trading Monday -- marijuana stocks have given back most of those gains. For example, as of 10:15 a.m. ET, Canopy was still up 0.7%, but Aurora was trading down 0.7%. Elsewhere in the sector, Tilray Brands' (NASDAQ: TLRY) strong early gains were pared to just 1.6%.
Only OTC-listed cannabis stock Curaleaf Holdings (OTC: CURLF) continued to power higher -- up 3.3%.
Source Fool.com
