by Fred Fuld III
In case you missed some of the propositions in the latest election, five more states have just followed the lead of Colorado, California, and many other states. The legalization of cannabis propositions have all passed. The five states are as follows:
South Dakota – Approved the medicinal use and recreational use of marijuana.
Mississippi – Approved the medical use of marijuana.
Montana – Approved the recreational use of marijuana.
Arizona – Approved the recreational use of marijuana.
New Jersey – Approved the recreational use of marijuana.
So what has this done for the cannabis stocks? It took investors a few days to process (and a few days for most of the votes to come in), but most of the marijuana stocks skyrocketed on Friday.
Here are just a few that got high:
- Aurora Cannabis (ACB) +56.1%
- Akerna (KERN) +32.6%
- HEXO (HEXO) +23.5%
- Tilray, Inc. (TLRY) +23.2%
- Green Organic Dutchman Holdings (TGODF) +20.8%
- WeedMD Inc. (WDDMF) +19.8%
- Flower One Holdings Inc. (FLOOF) +18.9%
- Cronos Group Inc. (CRON) +16.2%
- Sundial Growers Inc. (SNDL) +13.6%
It will be interesting to see which ones maintain their strength. Some may get higher and higher, others may go up in smoke.
Disclosure: Author didn’t own any of the above at the time the article was written.