Cannabis Stocks Surge Premarket as Federal Marijuana Legaliz Cannabis Stocks Surge Premarket as Federal Marijuana Legalization Bill Heads to House Floor Vote
MIDNIGHTTRADER - Updated just now
08:34 AM EDT, 03/25/2022 (MT Newswires) -- Tilray Brands (TLRY) and other cannabis stocks were surging in premarket trading Friday after the US House of Representatives' Rules Committee said Thursday that it would hold a floor vote next week on a federal marijuana legalization bill.
H.R. 3617, also known as the Marijuana Opportunity, Reinvestment, and Expungement Act, would decriminalize cannabis, provide for reinvestment in people who were adversely impacted by the War on Drugs, and expunge certain cannabis offenses.
It would also remove cannabis from the list of federal controlled substances.
Shares of Tilray and Aurora Cannabis Inc. (ACB) were up 19% and 15%, respectively, in premarket trading, while Canopy Growth (CGC) and Cronos Group (CRON) were up 12% and 7%, respectively.
Glta longs today
$$$TLRY