Why Marijuana Stocks Were Thrashed on Tuesday
American pot stocks just couldn't catch fire on Tuesday. Investors weren't heartened at all by the incoming Congress, which will feature a new majority-Republican House of Representatives.
Curaleaf Holdings (OTC: CURLF) led the downward charge by shedding more than 7% of its share price on the day, and Green Thumb Industries (OTC: GTBIF) fell by nearly 4%. Some Canadian peers also caught this cold, with Aurora Cannabis (NASDAQ: ACB), for example, slipping by 1%.
Although the ascendant Republicans struggled to elect a Speaker from their party on Tuesday, barring any oddball development they'll eventually sort this out to control the House. Unhappily for the marijuana industry, it's Republican lawmakers who have been the most resistant to drug law reform.
Source Fool.com
