Why Tilray, Sundial Growers, and Other Cannabis Stocks Dropped Today

As talk of potential legislation to legalize cannabis in the U.S. continues, stocks of many Canadian growers have been volatile. In just the past month, shares of Tilray (NASDAQ: TLRY), Sundial Growers (NASDAQ: SNDL), and OrganiGram Holdings (NASDAQ: OGI) are down 30%, 20%, and 18%, respectively. That trend continued today, with shares of these cannabis stocks moving as follows as of 12:45 p.m. EDT:

No real news came from the companies today. Tilray CEO Irwin Simon did give an interview yesterday in which he discussed the future of the company and explained its position in preparation for potential U.S. legalization. "In regards to legalization happening in the U.S., I think we will be ready to partner by when that does happen," Simon told Yahoo! Finance. "But right now, there is very little I can do other than on an option or potentially partner with someone when that does happen."

Source Fool.com