- The stock price of Canopy Growth (NASDAQ: CGC) increased by 11.42% today. This is why.
The stock price of Canopy Growth (NASDAQ: CGC) increased by 11.42% today. This is part of a broader rally in cannabis stocks.
The House Rules Committee is expected to vote on the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act cannabis legalization as soon as Tuesday. Nearly every Democrat is expected to back the MORE Act, but Republican support is unclear.
The MORE Act (H.R. 3617) essentially removes marijuana from the Controlled Substances Act and facilitates the expungement and resentencing of nonviolent federal marijuana convictions.
“For over half a century, marijuana prohibition has stood as the cornerstone of the cruel and inhumane drug war that has robbed millions of people of their freedom and their livelihoods. The weight of which has disproportionately fallen on the backs of Black, Latinx, Indigenous, and low-income communities—who remain its number one target,” said Maritza Perez, director of the Drug Policy Alliance’s office of national affairs via Marijuana Moment. “They’ve been denied jobs, housing, educational opportunities, and far more. They’ve had their families torn apart. Others have lost their immigration status. And our communities have suffered gravely as a result.”
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