November has delivered a triple-whammy of great news for cannabis stocks: Several states legalized the use of recreational marijuana, Joe Biden’s presidential victory could lead to more calls for decriminalization, and two leading cannabis companies reported better-than-expected results on Monday. Canopy Growth surged 10% and Aurora Cannabis jumped 20% after both reported higher-than-forecast sales and narrowing losses. Tilray (TLRY), which will report its results after the closing bell Monday, was also up 10%. Other cannabis stocks rallying Monday include global cannabis leader Curaleaf, Aphria, and Cronos, which has a big investment from tobacco giant and Marlboro owner Altria.
Paul R. La Monica, Cannabis Culture, 11/08/2020 19:00:00
Open article: https://www.cannabisculture.com/content/2020/11/09/cannabis-stocks-soar-on-biden-win-legalization-hopes-and-solid-results/