Here's Why Aurora Cannabis, Canopy Growth, Cronos Group, Sundial Growers And Tilray Shares Are Falling

Shares of cannabis companies, including Aurora Cannabis Inc ACB, Canopy Growth Corp CGC, Cronos Group Inc CRON, Sundial Growers Inc SNDL and Tilray Inc TLRY, are trading lower amid profit taking after the sector gained last week following comments from President Biden on marijuana reform.

See Also: Tilray Stock Soars Then Returns To Earth On Biden's Cannabis Pardon News, This Analyst Remains Neutral

The statement, issued last week via Twitter, in part states:

• "First: I’m pardoning all prior federal offenses of simple marijuana possession. There are thousands of people who were previously convicted of simple possession who may be denied employment, housing, or educational opportunities as a result. My pardon will remove this burden."
• "Second: I’m calling on governors to pardon simple state marijuana possession offenses. Just as no one should be in a federal prison solely for possessing marijuana, no one should be in a local jail or state prison for that reason, either."
• "Third: We classify marijuana at the same level as heroin – and more serious than fentanyl. It makes no sense. I’m asking @SecBecerra and the Attorney General to initiate the process of reviewing how marijuana is scheduled under federal law."