Why Marijuana Stocks Dropped on Thursday
Today appears to be one of the selling days, as shares of Aurora Cannabis (NASDAQ: ACB) slid 3.1%, Tilray (NASDAQ: TLRY) tanked 3.4%, and Canopy Growth (NASDAQ: CGC) led the sector lower with a 3.6% loss as of 12:20 p.m. ET. News today on the marijuana legalization front is actually pretty positive, with the Rules Committee of the U.S. House of Representatives having just voted to allow the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act to proceed to the House floor for a full vote on Friday. As MJBizDaily.com reports, the comprehensive marijuana legalization bill is expected to sail through its House vote tomorrow, with D.C.-based think tank The Liaison Group predicting a tally similar to the one that passed this same law two years ago — about 228 for legalization, and 164 against.