Cannabis Stocks Surge on Earnings, Reform Rumors, and Market Expansion
Marijuana stocks, including Tilray, Cronos Group, and Canopy Growth, surged as Vice President Kamala Harris expressed support for reducing federal regulation of marijuana in the U.S. and Germany passed a law to fully legalize the drug, set to take effect on April 1. This news, along with Canopy Growth's move to set up a Canopy USA holding company, drove stock prices up, with Tilray and Canopy Growth positioned to benefit the most from Germany's legalization.