Canopy Growth Corp.’s stock continued rallying on Monday as it broke through the $1 level for the first time since May as cannabis optimism builds from retail investors in the wake of a historic move to re-schedule marijuana.
Among individual names, Curaleaf CURLF, +9.41% was up by 8.8%, Verano VRNOF, +5.30% was up by 6.7%, Trulieve TCNNF, +7.75% was up by 7%, Green Thumb Industries GTBIF, +8.05% was up by 8%, Cresco Labs CRLBF, +6.65% was up by 5.7% and Tilray TLRY, +5.47% was up by 6%. In other potential moves that could help the sector, Attorney General Merrick Garland has also said he’s working on an updated version of the Cole memo, which instructs federal law enforcement agencies to not interfere with state-run cannabis programs.
Germany is also moving toward an adult-use cannabis program. On Wednesday, Canopy Growth said Canopy Growth Germany GmbH will operate under the name Canopy Medical in the German market, having previously been called Spectrum Therapeutics.