Cannabis stocks have cut short a losing streak amid hopes for better legal standing. Financials of companies may limit further gains. Aurora remains under pressure amid a highly dilutive deal. Marijuana stocks have gone higher on Tuesday as the US House Judiciary Committee announced plans to advance a bill that would legalize cannabis on the federal level. Consumption of cannabis is legal to various degrees, only in multiple states. Lawmakers led by Jerrold Nadler, the committee’s Chairman, are promoting the Marijuana Opportunity Reinvestment and Expungement Act (More Act) that would help individuals suffering from life-damaging convictions the ability to access housing and vote. For weed stocks, having access to a full American market is a boon. The news sent shares higher with Cronus (CRON) jumping by over 9% following the news. While House Democrats are moving forward with the More Act on Wednesday, it is unclear if Republicans will go along. Mitch McConnell, the majority leader, has met with executives of marijuana-related firms but has been a life-long opponent of legalization. Marijuana Stocks Today Nevertheless, weed equities are still struggling with sky-high expectations after the opening of the Canadian market have met the reality of making money. Aurora Cannabis is standing out with a highly dilutive offer on its convertible bonds. Despite the recovery, Aurora’s stock price is down around a third in the past month. The boom in the number of cannabis farms and their pricing may lead to bankruptcies down the road – even if the American market were to open fully. Tilary, a company whose stocks have surged around Canada’s decision, has missed Wall Street’s expectations with substantial losses. The firm reported gross sales of $51.1 million but losses of $23.3 million. Its stock price will likely remain in the limelight on Wednesday. Wednesday’s trading will likely be marked by legislative efforts and speculation about the potential profitability of See Marijuana Stocks Not Getting Investors High Ahead of Earnings FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/JPY off lows, still in the red below 140.00 handle FX Street 3 years Cannabis stocks have cut short a losing streak amid hopes for better legal standing. Financials of companies may limit further gains. Aurora remains under pressure amid a highly dilutive deal. Marijuana stocks have gone higher on Tuesday as the US House Judiciary Committee announced plans to advance a bill that would legalize cannabis on the federal level. Consumption of cannabis is legal to various degrees, only in multiple states. Lawmakers led by Jerrold Nadler, the committee's Chairman, are promoting the Marijuana Opportunity Reinvestment and Expungement Act (More Act) that would help individuals suffering from life-damaging convictions the ability… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
