Why Canopy Growth Stock Jumped Today

Shares of Canopy Growth (NASDAQ: CGC) were jumping 7.2% higher as of 3:29 p.m. EST on Thursday. The gain came after Mexico's lower congressional house approved a bill that would decriminalize marijuana. Also, New York Assembly Majority Leader Crystal Peoples-Stokes told The Buffalo News that state legislators are close to negotiating a deal with New York Gov. Andrew Cuomo to legalize recreational marijuana in the state. 

Both of these latest developments could bode well for Canopy Growth. Mexico would be one of the biggest legal cannabis markets in the world, and New York would be one of the largest legal cannabis markets in the U.S.

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Source Fool.com