Why Marijuana Stocks Like Cronos, Tilray, and HEXO Blasted Higher Today
On Monday, nearly the entire cannabis sector rose at market-trouncing rates. There were some eye-popping rises, with shares of Cronos Group (NASDAQ: CRON) closing almost 14% higher, and Tilray (NASDAQ: TLRY) doing even better at nearly 17%. Even persistently struggling HEXO (NYSE: HEXO) had a good day, climbing by just under 7%.
It wasn't any company-specific news that propelled Cronos, Tilray, HEXO and other weedies higher. Rather, it seems, it was good old politics.
With the Biden/Harris ticket maintaining a substantial lead in many polls just before Election Day, the political climate for marijuana looks set to improve drastically. Sen. Kamala Harris pledged to decriminalize the drug in last month's vice presidential debate.
Source Fool.com
