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Pot Stocks Gain as House to Vote on Decriminalization

Pot Stocks Gain as House to Vote on Decriminalization

Friday, 27 November 2020 02:18 PM

Pot stocks jumped after an updated U.S. House schedule showed a vote will be held on marijuana decriminalization next week.

The BI Global Cannabis Competitive Peers index, which had been trading lower before the announcement, quickly gained 3% to the highest since Feb. 10. Aurora Cannabis Inc. rose 16%, Tilray Inc. jumped 14%, Harvest Health & Recreation Inc. added 11% and Cronos Group Inc. gained 8.6%.

A vote will be held on the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act, which seeks to remove cannabis from the list of scheduled substances, according to a schedule update from Majority Leader Steny Hoyer. The House delayed a vote earlier this year. The Senate is not set to consider similar legislation at this time.

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Pot stocks jumped after an updated U.S. House schedule showed a vote will be held on marijuana decriminalization next week.The BI Global Cannabis Competitive Peers index, which had been trading lower before the announcement, quickly gained 3% to the highest since Feb. 10....
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2020-18-27
Friday, 27 November 2020 02:18 PM
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