Marijuana stocks smoked despite 1 in 3 Americans having access to legal weedPosted by On


Shares of marijuana-tied companies were falling sharply on Wednesday, despite voters in several states casting their ballots in favor of legalized marijuana.

Ticker Security Last Change Change %
CGC CANOPY GROWTH CORP 26.22 -0.15 -0.57%
ACB AURORA CANNABIS 9.73 -0.09 -0.92%
TLRY TILRAY INC 8.96 -0.37 -3.97%
CRON CRONOS GROUP 7.90 -0.21 -2.59%
I:COMP NASDAQ COMPOSITE INDEX 12764.74543 +106.56 +0.84%

Companies such as Canopy Growth, Aurora Cannabis, Tilray, and Cronos all saw declines of at least 7%. By comparison, the broader stock market averages were mostly higher, with the NASDAQ Composite surging more than 2% early Wednesday.

The stark declines in the marijuana space come after nearly 70% of voters in New Jersey voted to make marijuana legal for recreational purposes.

“We did it, New Jersey!” Gov. Phil Murphy tweeted Tuesday night. “Public Question #1 to legalize adult-use marijuana passed overwhelmingly tonight, a huge step forward for racial and social justice and our economy. Thank you to @NJCAN2020 and all the advocates for standing on the right side of history.”

Arizona, Montana, and South Dakota also voted to legalize marijuana on Tuesday, joining 11 other states and Washington, D.C., in making weed legal.

MARIJUANA LEGALIZATION APPROVED BY NEW JERSEY VOTERS

Murphy has been pushing for marijuana legalization since he was elected in 2017.

CLICK…

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Shares of marijuana-tied companies were falling sharply on Wednesday, despite voters in several states casting their ballots in favor of legalized marijuana.

Blueberry Mist Vape Juice
Ticker Security Last Change Change %
CGC CANOPY GROWTH CORP 26.22 -0.15 -0.57%
ACB AURORA CANNABIS 9.73 -0.09 -0.92%
TLRY TILRAY INC 8.96 -0.37 -3.97%
CRON CRONOS GROUP 7.90 -0.21 -2.59%
I:COMP NASDAQ COMPOSITE INDEX 12764.74543 +106.56 +0.84%

Companies such as Canopy Growth, Aurora Cannabis, Tilray, and Cronos all saw declines of at least 7%. By comparison, the broader stock market averages were mostly higher, with the NASDAQ Composite surging more than 2% early Wednesday.

The stark declines in the marijuana space come after nearly 70% of voters in New Jersey voted to make marijuana legal for recreational purposes.

“We did it, New Jersey!” Gov. Phil Murphy tweeted Tuesday night. “Public Question #1 to legalize adult-use marijuana passed overwhelmingly tonight, a huge step forward for racial and social justice and our economy. Thank you to @NJCAN2020 and all the advocates for standing on the right side of history.”

Arizona, Montana, and South Dakota also voted to legalize marijuana on Tuesday, joining 11 other states and Washington, D.C., in making weed legal.

MARIJUANA LEGALIZATION APPROVED BY NEW JERSEY VOTERS

Murphy has been pushing for marijuana legalization since he was elected in 2017.

CLICK…



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