Why Aurora Cannabis, Canopy Growth, and HEXO Shares Sank Today
Shares of Aurora Cannabis (NYSE: ACB) were falling by 12.3% as of 3:23 p.m. EST on Friday. Shares of Aurora's fellow Canadian marijuana stocks Canopy Growth (NYSE: CGC) and HEXO (NYSE: HEXO) (TSX: HEXO) were sinking by 8.2% and 14.3%, respectively. Why? The initial euphoria over the U.S. House of Representatives Judiciary Committee's vote to pass a bill that would legalize marijuana in the U.S. evaporated.
All three of these stocks soared earlier this week after the House Judiciary Committee voted 24-10 in favor of proposed legislation that would remove cannabis from the Controlled Substances Act, a change that would legalize cannabis at the federal level in the U.S. Investors reacted with wild enthusiasm over this milestone.
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Source Fool.com
