Why Tilray Led Canadian Cannabis Stocks Higher Today
Canadian cannabis stocks surged on Wednesday, the day election results were announced in the United States. Shares of Tilray (NASDAQ: TLRY), OrganiGram Holdings (NASDAQ: OGI), and Hexo (NASDAQ: HEXO) all jumped between 5% and 8.5% early in Wednesday's session as investors saw new results from U.S. voter referendums on marijuana legalization. The stocks pared some of those gains, but as of 3 p.m. EDT, each remained higher as shown below:
Voters in Pennsylvania's largest city overwhelmingly approved a ballot measure yesterday seeking to push Republican state legislators to fully legalize recreational marijuana. More than 70% of voters in Philadelphia supported a ballot question that is not legally binding, but was meant to show the state government voter support to legalize adult-use recreational marijuana.
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Source Fool.com
