Why Marijuana Stocks Are Hopping Again on Tuesday

Marijuana stocks are red hot Tuesday, as investors digest the latest cannabis news. And what news we've got! Last week, Vice President Kamala Harris voiced plans "to legalize marijuana" in the U.S. In just a few days, Germany will do just that, decriminalizing both marijuana possession and home cultivation of cannabis effective April 1.

Investors who pocketed gains yesterday are lining up to buy more on Tuesday. As of 10:40 a.m. ET, shares of marijuana stocks Cronos Group (NASDAQ: CRON),  (NASDAQ: SNDL), and Canopy Growth (NASDAQ: CGC) are up 4.8%, 8.3%, and 11.8%, respectively.

There's good reason for optimism. While U.S. federal marijuana legalization may or may not happen, support is building in Congress for legislation making sales at the state level -- where 24 states have fully legalized weed -- more profitable for the companies that sell it.

Continue reading

Source Fool.com