Why Canopy Growth, Hexo, Tilray, and Other Pot Stocks Soared Today

Several pot stocks soared on Monday as the state of New York moved closer to legalizing recreational marijuana. Tilray (NASDAQ: TLRY) was the biggest mover, with shares jumping 12% as of 3:24 p.m. EDT. Aurora Cannabis (NYSE: ACB) shares were up 5.1%. Canopy Growth (NASDAQ: CGC) and Hexo (NYSE: HEXO) weren't too far behind, with the stocks rising 4.1% and 4.5%, respectively.

The momentum wasn't limited only to Canadian marijuana stocks. Shares of U.S.-based CBD pioneer Charlotte's Web Holdings (OTC: CWBHF) moved 2.1% higher after jumping as much as 5.5% earlier in the day.

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Source Fool.com