Why Aurora Cannabis, HEXO, Cronos Group, and Other Cannabis Stocks Surged Today
Marijuana stocks soared on Monday, as investors grew more optimistic about the cannabis industry. Many of the largest companies enjoyed sharp gains on the day, including:
Several factors likely contributed to the rally in cannabis stocks. Many investors view the stock market as expensive after its recent rally off its lows in March, and it's possible that bargain hunters are setting their sights on the beleaguered marijuana industry. Even after today's gains, many of these stocks are still well below their all-time highs. That could make some of the strongest marijuana companies intriguing to investors who are more value-focused.
Cannabis stocks rose sharply on Monday. Image source: Getty Images.
Source Fool.com
