Canopy Growth Leads Pot Stocks Up Amid Decriminalization Hearing
Comment of the Day

July 20 2022

Commentary by Eoin Treacy

Canopy Growth Leads Pot Stocks Up Amid Decriminalization Hearing

This article from Bloomberg may be of interest to subscribers. Here is a section:  

Canopy Growth jumps as much as 16% to a three-week high ahead of a US Senate committee meeting to explore decriminalizing marijuana next Tuesday.

The Subcommittee on Criminal Justice and Counterterrorism scheduled a hearing to “examine decriminalizing cannabis at the Federal level, focusing on necessary steps to address past harms,” set for July 26

Shares of cannabis companies jumped, including; Tilray Brands Inc. up as much as +8.8%, Cresco Labs +9.2%. Aurora Cannabis Inc. +8.2%, Curaleaf +4.5%, Green Thumb Industries Inc. +6.2%, Sundial Growers Inc. +7.2%

The ETFMG Alternative Harvest ETF rose as much as 5% to its highest point in three weeks

Pot stocks have rallied on news that Senate Democrats plan to introduce a bill to decriminalize marijuana, known as the Cannabis Administration and Opportunity Act, as early as this week

Eoin Treacy's view

I have mixed emotions about cannabis. My libertarian instincts lead me to favour supplying people with all the information they might need and letting them do as they please. Any trouble they get into is at their own risk and personal responsibility should imbibe individuals with a sense of risk aversion.

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