Why Marijuana Stocks Like Tilray and SNDL Tanked Today
It wasn't exactly a Marijuana Monday for pot sector stocks on the first trading day of this week. Many got hammered during the session, with U.S. multi-state operators Curaleaf (OTC: CURLF) and Green Thumb Industries (OTC: GTBIF) falling at double-digit rates of 17% and 12%, respectively.
Major Canadian weedies also got slammed; Tilray Brands (NASDAQ: TLRY) declined by nearly 9%, while Aurora Cannabis (NASDAQ: ACB) and SNDL (NASDAQ: SNDL) competed in the race to the bottom by tumbling a respective 9% and 10%. The culprit was yet another looming setback on the North American legalization front.
On Friday, according to numerous media reports, Senate majority leader Chuck Schumer scrambled to get a major piece of marijuana reform legislation passed in the current lame-duck congress.
Source Fool.com
