Why These Marijuana Stocks Tanked on Tuesday

Motley Fool2021-03-24

A seemingly positive development on the legislative front for the industry wasn't greeted too warmly by investors. What happened Talk about a buzzkill: The latest news on marijuana reform didn't go ...

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Comments

ynngy
2021-03-30
ynngy
nice
MoneyCum
2021-03-24
MoneyCum
Smoke smoke
Elongated
2021-03-24
Elongated
I will invest
- alicialjw:
  Haha
DavidDarren
2021-03-24
DavidDarren
Wow
- alicialjw:
  Haha
Bodoh
2021-03-24
Bodoh
Wow yes you are correct... unbelievable
Sctzilla
2021-03-24
Sctzilla
i wont invest
- Sctzilla:
  RegulatiOn is the biggest risk. it can make or brwak a company
- Sctzilla:
  Its something tgafvis heavily Regulated
- Zarkness:
  Y?
- Bodoh:
  Too much smoke?

Leave a comment

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On Tuesday, they sold off many sector favorites, including Aprhria(NASDAQ:APHA),Aurora Cannabis(NYSE:ACB),OrganiGram Holdings(NASDAQ:OGI),HEXO(NYSE:HEXO), and Curaleaf Holdings(OTC:CURLF). All fell at rates ranging from 3.4% to 4.5%. Meanwhile, multistate operator Green Thumb Industries(OTC:GTBIF) really took it on the chin, declining 8.4%.\nSo what\nThere was little news of any consequence from those companies. Rather, it seems that investors are reacting to one development in Washington that's encouraging on its surface. Following a similar move in the House of Representatives last week, Sen. Jeff Merkley, an Oregon Democrat, and his Republican counterpart Steve Daines of Montana have reintroduced the SAFE Banking Act in the Senate.\nIMAGE SOURCE: GETTY IMAGES.\nBut Democrats, who tend to support marijuana reform measures, only control the Senate these days because of the potential tie-breaking vote of Vice President Kamala Harris, and the Senate filibuster is still available to Republicans (who clearly intend to do their best to scotch Democrat initiatives). That means the SAFE Banking Act -- which would protect financial institutions in legalized states that want to offer basic banking services to marijuana businesses -- currently looks like a nonstarter there.\nNow what\nSo the one-step-forward-and-two-steps-back lurch of U.S. marijuana reform continues. But shareholders of Aprhia, Aurora, and their fellow cannabis stocks shouldn't be discouraged. Momentum still favors progress, as witnessed by the recent recreational-legalization switch thrown by Virginia. 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yes you are correct... unbelievable&nbsp;","listText":"Wow yes you are correct... unbelievable&nbsp;","text":"Wow yes you are correct... unbelievable","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/351189506","repostId":1190328220,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":351116459,"gmtCreate":1616574444771,"gmtModify":1704795834725,"author":{"id":"3575088615997337","authorId":"3575088615997337","name":"Sctzilla","avatar":"https://static.tigerbbs.com/da92fdf7b2ad123c19abd6ec086d68d6","vip":1,"crmLevel":6,"crmLevelSwitch":0},"htmlText":"i wont invest","listText":"i wont invest","text":"i wont invest","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/351116459","repostId":1190328220,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3870969,"gmtCreate":1616585315554,"gmtModify":1680781540107,"authorId":3575088615997337,"author":{"id":3575088615997337,"authorId":3575088615997337,"name":"Sctzilla","avatar":"https://static.tigerbbs.com/da92fdf7b2ad123c19abd6ec086d68d6","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 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"},{"id":3870967,"gmtCreate":1616585288450,"gmtModify":1680781539040,"authorId":3575088615997337,"author":{"id":3575088615997337,"authorId":3575088615997337,"name":"Sctzilla","avatar":"https://static.tigerbbs.com/da92fdf7b2ad123c19abd6ec086d68d6","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 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