Cannabis stocks rally
The last week of the month started on a positive note with most cannabis stocks off to a strong start on January 28. At around 2:06 AM ET, Cronos Group (CRON) continued to gain. The stock was up nearly 13.4% after Jum Cramer called it the second-best stock, after Canopy Growth (WEED)(CGC).
There has also been enthusiasm in the cannabis industry on the US side, especially as the regulatory environment appears to warm to the cannabis industry. Just earlier this month, newly appointed Attorney General William Barr indicated that he would leave marijuana companies that operate in states where cannabis is legal alone. Plus, the legalization of hemp gave a further boost to legitimizing cannabis in the country.
The Horizons Marijuana Life Sciences ETF (HMMJ) held its solid gains of the day at 4.9% while Tilray (TLRY) was also up, by about 4.9% during the mid-day session. Aurora Cannabis (ACB) remains in the green with its stock up about 2.6% while HEXO Corp is up nearly 2.3% today.
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