Cannabis stocks are soaring again

CNN
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Summary

Shares of major cannabis stocks are soaring once again following the news that Joe Biden's transition has formally begun. Other cannabis stocks on the move include global cannabis leaders Curaleaf, Aphria and Cronos, which has a big investment from tobacco giant and Marlboro owner Altria. "This will likely increase pressure on Congress to pass major federal marijuana reform in the very near future." Canopy Growth rose 6%, Aurora Cannabis surged 25% and Tilray jumped 14% in early trading. "Mitch McConnell is a one-man 'no' machine," said John Hudak, a cannabis policy expert and deputy director at the Brookings Institution.

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Shares of major cannabis stocks are soaring once again following the news that Joe Biden's transition has formally begun. The uptick is fueled by expectations that the incoming administration will loosen regulations, as well as more US states legalizing sales of recreational marijuana. Canopy Growth rose 6%, Aurora Cannabis surged 25% and Tilray jumped 14% in early trading. Other cannabis stocks on the move include global cannabis leaders Curaleaf, Aphria and Cronos, which has a big investment from tobacco giant and Marlboro owner Altria. The stock spikes are also following a broader market rally Tuesday. Earlier this month, voters in Arizona, Montana, New...

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