Why Shares of OrganiGram Popped Today
Shares of OrganiGram Holdings (NASDAQ: OGI), a Canadian cannabis company, were up more than 4% today. The stock closed at $2.46 on Friday, opened at $2.47 on Monday and climbed to $2.58 by the close. Though the stock is still a long way from its 52-week high of $6.46, it has had a good run of late and is up more than 93% for the year.
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On Friday, Sen. Cory Booker, the New Jersey Democrat who is one of the sponsors of the Cannabis Administration and Opportunity Act, which would deschedule marijuana use at the federal level, tweeted that he expected to talk with President Joe Biden to gain support for the legislation. Descheduling marijuana would mean a significant reduction in regulations regarding the drug.
Source Fool.com
