Cannabis stocks extended their late Thursday-rally premarket Friday, after a report that the U.S. House of Representatives is planning to vote for the second time on the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act that would legalize cannabis at the federal level next week. The news was reported in a Thursday article in Marijuana Moment. The bill is one of a list that House leaders plan to take up on the House floor next week. An earlier version cleared the House last session but later stalled in what was a Republican-majority Senate. Canopy Growth Corp (WEED.T) was up 10% premarket. The Canadian company is poised to immediately benefit from U.S. legalization as it has an option to acquire multi-state operator Acreage Holdings once the law changes. Aurora Cannabis (ACB.T) was up 12%, Cronos Group Inc. (CRON.T) was up 7% and Tilray Brands Inc. (TLRY) was up 13.6%. The AdvisorShares Pure US Cananbis ETF (MSOS) was up 3.1% and the Cannabis ETF (THCX) was up 6.7%.
(END) Dow Jones Newswires
March 25, 2022 08:42 ET (12:42 GMT)
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