Cannabis stocks rose Wednesday, after Ohio voters approved a referendum to legalize cannabis for adult recreational use and a national poll showed increased support for cannabis legalization.
Verano Holdings Corp. VRNOF, +3.56% was up 6.1% after it reported a 5% increase in third-quarter revenue to $240 million and a narrower loss of $17.84 million, from $43 million in the same period a year earlier. Green Thumb Industries Chief Executive Ben Kovler said the company has operated medical dispensaries in Ohio since 2019 and has supported the transition to retail adult sales in several states.
Since crossing the 30% mark in 2000, support for legal cannabis accelerated after 2010 to more than half of Americans in 2013, Gallup said.A July survey by Gallup showed that 17% of Americans say they personally smoke cannabis, up by 10 percentage points since 2013.