Why Hexo, Canopy Growth, and Aurora Cannabis Stocks Are Dropping Today

·2 min read
Why Hexo, Canopy Growth, and Aurora Cannabis Stocks Are Dropping Today

On a bright day for the stock market in general -- the S&P 500 is up a solid 1.5% -- marijuana stocks are wilting today. As of 2:35 p.m. EDT, three of the best-known names in the sector, Hexo (NYSE: HEXO), Canopy Growth (NASDAQ: CGC), and Aurora Cannabis (NYSE: ACB), are down 3.1%, 3.6%, and 5.3%, respectively. If there's any news of relevance to report today, it's that in the halls of Congress, two Republican lawmakers have just introduced a bill to legalize marijuana at the federal level, and to "protect banks that service state-legal cannabis business and ensure that military veterans are specifically permitted to use marijuana in compliance with state laws," reports MarijuanaMoment.net.