Cannabis stocks are on the move Tuesday after the Florida Supreme Court approved the ability to add recreational marijuana use to the state’s November ballot.
This measure will have residents of Florida voting for or against a new amendment that would allow the use of the drug. The court voted five to two in favor of allowing the amendment to be on the ballot.
Here’s what Justice Jamie Grosshans said about the decision in a statement collected by CBS News:
“Our role is narrow — we assess only whether the amendment conforms to the constitutionally mandated single-subject requirement, whether the ballot summary meets the statutory standard for clarity, and whether the amendment is facially invalid under the federal Constitution. In light of those limited considerations, we approve the proposed amendment for placement on the ballot.”
Let’s check out how cannabis stocks are reacting to this news below!
Cannabis Stocks Up Today
- Tilray (NASDAQ:TLRY) stock is rising 2.7% higher as of noon Tuesday.
- Canopy Growth (NASDAQ:CGC) stock is soaring 15.8% higher as of this writing.
- SNDL (NASDAQ:SNDL) stock is getting a 6.8% boost today following the news.
- Aurora Cannabis (NASDAQ:ACB) stock is rocketing 23 higher on Tuesday.
Investors will find even more of the latest stock market news ready to go below!
We have all of the hottest stock market stories worth reading about on Tuesday! Among that is what’s happening with ChampionX (NASDAQ:CHX) stock, VivoPower (NASDAQ:VVPR) stock and a Google lawsuit. All of that news is available below!
More Stock Market News for Tuesday
- CHX Stock: ChampionX Pops on News of Schlumberger Acquisition
- Why Is VivoPower (VVPR) Stock Up 260% Today?
- Google Incognito Lawsuit: Google Pledges to Destroy Private Browsing Records
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.
