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Benzinga
Benzinga
Business
Adam Eckert

What's Going On With Tilray, Canopy Growth And Aurora Cannabis Shares Today?

Tilray Brands Inc (NASDAQ:TLRY), Canopy Growth Corp (NASDAQ:CGC) and Aurora Cannabis Inc (NASDAQ:ACB) are trading lower Thursday alongside several other cannabis stocks. So what's going on?

Cannabis stocks have largely sustained impressive rallies from last week, led by increased investor optimism surrounding federal cannabis legalization. 

The House Rules Committee held a hearing on the Marijuana Opportunity Reinvestment and Expungement (MORE) Act on Wednesday. Meetings have continued Thursday, but according to Benzinga Pro, the House is not expected to vote on the marijuana bill today. Debates are reportedly ongoing.

Cannabis stocks are popular among retail investors and have recorded outsized gains over the last few weeks. Tilray is up 43% over a one-month period, while Canopy and Aurora are up nearly 15% respectively. Despite the impressive surge, all three stocks remain well below their 52-week highs.

See Also: Simon Says Legalize: Tilray CEO Makes The Case For Cannabis

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Join live in Miami at the Fontainebleau Miami Beach on April 20-21, 2022, or tune in from anywhere using Benzinga's hybrid event software.

Click here to register for the complete In-Person or Virtual Benzinga Cannabis Capital Conference experience, featuring networking, one-on-one meetings, access to investors and more.

Photo: futurefilmworks from Pixabay.

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