Why Sundial, Cronos Group, Curaleaf, and Other Cannabis Stocks Soared Today
Marijuana stocks popped on Monday, as investors looked ahead to crucial Senate runoff elections. By the close of trading, shares of Sundial Growers (NASDAQ: SNDL), Cronos Group (NASDAQ: CRON), and Curaleaf Holdings (OTC: CURLF) were up 16.1%, 9.7%, and 7.3%, respectively.
Investors appear to be growing more optimistic that the Democrats will be able to win two Senate seats in Georgia's runoff elections on Tuesday. Should they do so, it could make the decriminalization of marijuana more likely and perhaps pave the way for legalization at the federal level.
Upcoming Senate elections could provide a lift to the U.S. cannabis market. Image source: Getty Images.
Source Fool.com
