Why Green Thumb, Curaleaf, and Canopy Growth Stocks Popped Today
After initially selling off hard in early trading Wednesday, cannabis stocks made a comeback later in the day. By the closing bell, shares of Green Thumb Industries (OTC: GTBIF) -- which had been down as much as 6.1% -- closed up 0.4%. Curaleaf Holdings (OTC: CURLF) -- down as much as 5.1% in the morning -- cut its losses to 2.3%. Canopy Growth (NASDAQ: CGC) flipped from a 2.7% morning loss to close the day up 8.9%.
And in fact, Canopy Growth may be the reason other cannabis stocks are looking healthier today.
On Tuesday, in a press release announcing its plan to "fast track entry into the U.S. cannabis market," Canopy Growth said it is creating a U.S. holding company to "unleash the value of its full U.S. cannabis ecosystem" as soon as marijuana is legalized here.
Source Fool.com
