Cannabis stocks heating up on Wednesday as investors prepare for a Senate meeting that could introduce a new legalization bill.
According to recent reports, the introduction of the marijuana legalization bill could happen as early as this week. The exact details of the bill are unknown but it’s likely to include decriminalizing the plant, as well as reforms to criminal justice.
Adding to that talk, Senator Cory Booker has announced a Senate Committee meeting for July 26. This will cover “Decriminalizing Cannabis at the Federal Level: Necessary Steps to Address Past Harms.” Booker is the man behind the new weed legalization bill too.
Marijuana legalization has been the white whale of cannabis stocks for years now. The current composition of the Senate may allow such a bill to pass and there’s a push to get it through before the midterms this November.
As expected, cannabis stocks are gaining on talk of legalization. Let’s go over how some of the biggest players are reacting today below!
Cannabis Stocks on the Move
- Tilray (NASDAQ:TLRY) stock starts us off today with the company’s shares increasing 8.2% as of this writing.
- Canopy Growth (NASDAQ:CGC) shares are also on the rise with the company’s stock getting a 13.2% boost Wednesday afternoon.
- Sundial Growers (NASDAQ:SNDL) stock joins the crowd with the company’s shares climbing 4.3% higher this afternoon.
- GrowGeneration (NASDAQ:GRWG) shares close out our cannabis stocks coverage with an 8.6% jump as of this writing.
Investors on the lookout for more recent stock market news will want to stick around!
InvestorPlace has all the hottest stock news to know about for Wednesday! Among that is what has shares of Workhorse (NASDAQ:WKHS), FaZe Clan (NASDAQ:FAZE), Amazon (NASDAQ:AMZN) stock on the move. You can get up to speed on all of that at the links below!
More Wednesday Stock Market News
- Why Is Workhorse (WKHS) Stock 16% Today?
- FAZE Stock: 10 Things to Know as FaZe Clan Starts Trading Today
- BofA Downgrades Amazon (AMZN) Stock on Strong Dollar. What That Means.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.