Weed stocks surge as Kamala Harris vows to decriminalize pot in debate

Brian Skinner Elections, Marijuana policy
Marijuana Flower

Marijuana Flower

Reuters — By Shariq Khan — October 8, 2020

U.S.-listed shares of major cannabis producers surged on Thursday after Democratic vice president nominee Kamala Harris said marijuana would be decriminalized at a federal level in the United States under a Biden administration.

During Wednesday night’s debate with Vice President Mike Pence, Harris said she and Democratic presidential nominee Joe Biden would also expunge the criminal records of people convicted of marijuana-related offences in the past.

Cannabis stock tracker MJ ETF MJ.P rose 5.5% to mark its best session since early June, while Tilray Inc TLRY.O jumped 19.2% on the Nasdaq. U.S.-listed shares of Canopy Growth Corp WEED.TO, Aphria Inc APHA.TO and Aurora Cannabis Inc ACB.TO closed between 10% and 13% higher.

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