Cannabis stocks continued their post-election rally Monday, as two Canadian industry leaders, Canopy Growth Corp. and Aurora Cannabis Inc., posted earnings amid rising hopes for U.S. reform under President-elect Democrat Joe Biden.
A third, Tilray Inc.
TLRY,
, is scheduled to report after the closing bell.
Further boosting sentiment, a new Gallup poll found seven in 10 Americans now support cannabis legalization, the highest-ever level of support. A full 68% of those polled said they favor legalizing for adult use, up from 66% last year.
Canopy,
CGC,
WEED,
the biggest cannabis company measured by market capitalization thanks to a $4 billion investment from Corona beer brewer Constellation Brands Inc
STZ,
posted a narrower-than-expected loss and revenue that beat estimates.
On the company’s earnings call with analysts, Chief Executive David Klein…
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