Marijuana stocks rally after New Jersey governor, lawmakers unveil plan for legal weed

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Shares of major cannabis companies rallied Tuesday after New Jersey politicians outlined plans to legalize recreational marijuana use.

Shares of major cannabis companies rallied Tuesday after New Jersey politicians outlined plans to legalize the adult use of recreational marijuana in the state.

If the bill is passed and signed into law, the New Jersey adult-use marijuana market would be governed by a Cannabis Regulatory Commission, composed of five members appointed by the governor. The commission will be tasked with promoting regulations to govern the industry and will oversee applications for licensing.

Cronos Group rallied 4.5 percent, Canopy Growth gained 3.7 percent, Tilray added 3.4 percent and Aurora rose 2.6 percent. Nine of the top 10 holdings of the $1.1 billion ETFMG Alternative Harvest ETF — a fund that tracks the equity performance of many companies that legally cultivate cannabis — gained in midday trading Tuesday.

 

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Coors JV cannabis partner Hexo reports earnings Thursday.

Dot com bubble, home loan bubble, student debt bubble, fracking bubble... weed bubble?

Stoned and stupid. It's the Democrat way.

Just what the state needs, an army of zombie junkies.

they see taxes !

Get so high you feel you can fly.. lol puff puff pass that policy. 😉

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