Why Marijuana Stocks Like Cronos, Tilray, and HEXO Blasted Higher TodayPosted by On


What happened

On Monday, nearly the entire cannabis sector rose at market-trouncing rates. There were some eye-popping rises, with shares of Cronos Group (NASDAQ:CRON) closing almost 14% higher, and Tilray (NASDAQ:TLRY) doing even better at nearly 17%. Even persistently struggling HEXO (NYSE:HEXO) had a good day, climbing by just under 7%.

So what

It wasn’t any company-specific news that propelled Cronos, Tilray, HEXO and other weedies higher. Rather, it seems, it was good old politics.

With the Biden/Harris ticket maintaining a substantial lead in many polls just before Election Day, the political climate for marijuana looks set to improve drastically. Sen. Kamala Harris pledged to decriminalize the drug in last month’s vice presidential debate.

Illegal and Legal spelled out in dice next to marijuana leaf symbols.

Image source: Getty Images.

More importantly, the…

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