Cannabis stocks mixed after landmark hearing on U.S. laws, CannTrust slammed afresh

Cannabis stocks were mixed on Thursday, a day after a landmark congressional hearing on reforming U.S. laws that found bipartisan agreement that the current setup is a mess and needs to change.

Nadler responded that it’s “a fact of life” that “enforcement of marijuana laws has been done in a racially disparate manner.” Jessica Rabe, co-founder of data and markets research company Datatrek, said Thursday 2020 will likely see the next big push for retail cannabis legalization, either through legislative action, as happened recently in Illinois, or the ballot box.

In company news, CannTrust shares CTST, -4.11% TRST, -5.10% fell another 6% to bring the stock’s week-to-date losses to more than 40%. The stock has been slammed since the company said its cannabis had been seized by the Canadian regulator after it discovered it was growing in unlicensed rooms. The selloff accelerated after the company’s Danish partner Stenocare A/S said Tuesday it had received some of the illegal product.

Buy APHA sitting on the moving average right now I see a 10% pop possible 🤷🏻‍♂️

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