Why Sundial Growers Stock Surged Today

Shares of Sundial Growers (NASDAQ: SNDL) jumped 16% on Wednesday as a bevy of positive developments heightened investor interest in marijuana stocks.

Cannabis stocks received a boost earlier this week after Democratic Senate Majority Leader Chuck Schumer and Senators Cory Booker and Ron Wyden pledged to lead an effort to end the federal prohibition on marijuana.

"The War on Drugs has been a war on people -- particularly people of color," the senators said in a joint statement. "Ending the federal marijuana prohibition is necessary to right the wrongs of this failed war and end decades of harm inflicted on communities of color across the country."

Source Fool.com