Why Tilray, Canopy Growth, and Aurora Cannabis Stocks Soared Today
Cannabis stocks are on fire Monday after another sign that the United States might be getting closer to easing banking rules for legalized marijuana. Canadian pot stocks soared on the news. As of 2:25 p.m. ET, shares of Tilray Brands (NASDAQ: TLRY) were 12.4% higher, Canopy Growth (NASDAQ: CGC) was up 18.3%, and Aurora Cannabis (NASDAQ: ACB) stock had popped 11.7%.
Today's jump brings the return from Tilray shares to more than 40% in the last month as the support for legalizing weed in some form gains momentum in the U.S. The latest news came when Senate Majority Leader Chuck Schumer, the New York Democrat, said in a Sunday debate that Congress is getting "very close" to agreement on a marijuana bill that would allow legal pot businesses access to banking services.
The comments, reported by the website Marijuana Moment, also included the fact that the Democratic leader has made important progress on the topic with Republican senators, too.
Source Fool.com
