Why Canopy Growth, Tilray, and Aurora Cannabis Stocks Glowed Green on Tuesday
Another day, another rally for marijuana stocks! After taking a short breather on Monday, cannabis stocks including Canopy Growth (NASDAQ: CGC), Tilray (NASDAQ: TLRY), and Aurora Cannabis (NASDAQ: ACB) are off to the races once more Tuesday morning, rising 2.9%, 4.5%, and 5.3%, respectively, through 10:20 a.m. EST. And action in Congress is the reason.
As cannabis news source Marijuana Moment reports, now that the midterm elections are over and it's (almost) time to get back to work, both Democrats and Republicans in an almost evenly divided House of Representatives have prepared a joint memo to guide their work in an upcoming hearing on marijuana legalization.
In general, the memo takes a tone favorable to legalization, addressing decriminalization and expunging convictions for low-level cannabis offenses, while advocating government regulation of marijuana sales over the current outright federal ban.
Source Fool.com
