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Why Cannabis Stocks Are Trading Lower Today

January 21, 2021 3:24 pm
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Why Cannabis Stocks Are Trading Lower Today

The shares of several cannabis stocks are trading lower as cannabis names pullback following recent momentum.

The sector gained in recent weeks following Democratic Senate victories in Georgia and yesterday's U.S. presidential transition, as a Biden presidency and Democratic Senate are seen as favorable for cannabis legalization.

Aurora Cannabis (NYSE:ACB) cultivates and sells medicinal and recreational cannabis through a portfolio of brands that include Aurora, CanniMed, Daily Special, MedReleaf, and San Rafael '71.

Aurora Cannabis shares were trading down 3.29% at $11.16. The stock has a 52-week high of $26.40 and a 52-week low of $3.71.

Tilray (NASDAQ:TLRY) sells medical and recreational cannabis through a portfolio of brands that include Canaca, Dubon, and Manitoba Harvest.

Tilray's stock was down 4.20% at $18. The stock has a 52-week high of $22.61 and a 52-week low of $2.43.

Cronos Group Inc (NASDAQ:CRON) cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach.

Cronos stock was down 11% at $10.84. The stock has a 52-week high of $11.75 and a 52-week low of $4.