Cannabis stocks tumbled in morning trading. Clever Leaves Holdings, Canopy Growth, HEXO, Aurora Cannabis, Sundial Growers, Cronos Group, Tilray, Organigram and Jushi Holdings fell between 3% and 33%.
They are all trading lower due to profit-taking from last week's rally amid news the U.S. House Rules Committee scheduled a Monday afternoon meeting to prepare a federal marijuana legalization bill for floor action.
Several cannabis stocks saw marked interest on social media during last Thursday's after-hours and throughout last Friday's trading sessions. At the time of publication, Tilray is trending on Stocktwits amid Monday's selling pressure.
Cannabis stocks may have experienced a short squeeze during last Thursday and Friday's trading sessions. According to data from Benzinga Pro, Tilray has a short percentage of share float of 39.8%; Canopy Growth has a short percentage of share float of 19.7%.
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