Why Cannabis Stocks TLRY, CGC, SNDL Are Heating Up Today
Cannabis stocks are in the news Monday as investors hold out hope for lawmakers to push through new marijuana laws.
The latest reports claim that a group of senators intends to attach new policies surrounding marijuana to bills that need to pass by the end of the year. This could pave the way for new cannabis laws on a federal level.
Interest in passing new marijuana laws is actually bipartisan, with some senators on both sides of the aisle supporting the changes that could come. Some potential changes include granting cannabis companies access to banking institutions as well as “creating grants for state expungement of past marijuana convictions.”
If these new rules become law, it could mark a major win for cannabis stocks. The news would also put them one step closer to the legalization of the drug on a federal level.
Let’s see how all of this is affecting pot stocks below!
Cannabis Stocks Up on Monday
- Tilray Brands (NASDAQ:TLRY) stock starts out this list with shares climbing 5.6% higher as of Monday afternoon.
- Canopy Growth (NASDAQ:CGC) shares take the next spot on our list with CGC stock gaining 4.3% as of this writing.
- SNDL (NASDAQ:SNDL) stock closes out this list as the stock increases 1.6% this afternoon.
Investors looking for more of the most recent stock market news will want to stick around!
InvestorPlace has all of the latest stock coverage traders need to know about on Monday! That includes what has shares of Bed Bath & Beyond (NASDAQ:BBBY), Top Ships (NASDAQ:TOPS) and Clovis Oncology (NASDAQ:CLVS) stock today. You can read that news at the links below!
More Monday Stock Market News
- Why Is Bed Bath & Beyond (BBBY) Stock Down 75% in 2022?
- Why Is Top Ships (TOPS) Stock Down 59% Today?
- Dear CLVS Stock Fans, Get Ready for a Bankruptcy Filing
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
More from InvestorPlace