Pot stocks draw retail interest ahead of vote on marijuana legalization bill

ZeroStack

25/03/2022 14:59

(Updates)
    ** Pot stocks draw retail interest as a cannabis
decriminalization bill https://bit.ly/3Le9mTJ heads for vote in
the U.S. House of Representatives next week
    ** Discussions on the "Marijuana Opportunity Reinvestment
and Expungement Act", or MORE Act, gain traction on Reddit
including r/wallstreetbets of GameStop  GME.N  fame
    ** Tilray  TLRY.O  up 8.6% and U.S. shares of Canada-based
Sundial Growers  SNDL.O , add 5.5% to top the list of stocks
with the highest buy and sell orders among Fidelity's customers 
    ** TLRY, SNDL are also the most traded stocks across U.S.
exchanges with 267 mln SNDL shares and 110 mln TLRY shares
changing hands by 10:36 am ET
    ** Other U.S. shares of Canada-based cos Hexo  HEXO.O ,
Flora Growth  FLGC.O  and Aurora Cannabis  ACB.O  climb
1.8%-4.4%, among top movers
    ** Clever Leaves Holdings  CLVR.O  up 35%, Greenlane
Holdings  GNLN.O  rises 15%
    ** Pot stocks trackers MJ ETF  MJ.P  and AdvisorShares Pure
US Cannabis ETF  MSOS.P  up 2.5% and 1.3%, respectively
    ** The Act seeks to remove cannabis from the list of
federally controlled substances; a previous version passed the
House in 2020 but did not clear the Senate
    ** Canada-listed cos only operate in certain U.S. states
since marijuana is illegal at the federal level

 (Reporting by Ruhi Soni and Medha Singh in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com;
Twitter: https://twitter.com/ruhithere;))