Cannabis stocks rallied in premarket trade Thursday, led by Aurora Cannabis Inc, the sector's most widely held stock, buoyed by Democrat Joe Biden's electoral vote gains that place him close the becoming the 46th U.S. president. Biden, and his running mate Kamala Harris, have voiced support for decriminalizing marijuana on a federal level, and are expected if they come into power to adopt a more pro-cannabis legalization agenda than incumbent President Donald Trump. Aurora (ACB.T) soared 36% premarket, while Canopy Growth Corp. (WEED.T), the biggest cannabis company by market cap, rose 11%. Tilray Inc. (TLRY) was up 24%, OrgniGram (OGI.T) was up 19% and Aprhia INnc. (APHA.T) was up 13%, after acquiring U.S. craft beer maker Sweetwater, known for its 420-branded brews, on Wednesday.
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
November 05, 2020 13:37 ET (18:37 GMT)
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