02:45 PM EST, 11/06/2020 (MT Newswires) -- Cannabis stocks rallied on Friday afternoon after five more US states legalized marijuana for recreational and medical use, according to media reports.
New Jersey and Arizona voters approved ballot measures to make recreational marijuana legal.
Montana and Mississippi residents voted on the legalization of recreational marijuana and medical marijuana, respectively.
South Dakota is the first state where residents approved both recreational and medical marijuana through two separate measures.
Prior to Election Day, recreational marijuana was already legal in 11 states and Washington D.C.
Stocks of Aurora Cannabis (ACB) surged 62%, Canopy Growth (CGC) 12%, Cronos Group (CRON) 19% and Tilray (TLRY) 28%. Aphria (APHA) also gained 0.6%.