Tilray and Canopy Growth shares continue Friday rally – High investor interest

• Shares from Tilray and Canopy Growth continue to be sought at the start of the week
• Expected new classification in the US continues to move forward
• Decision possibly today

The shares of Canopy Growth and Tilray are still in the focus of investors at the start of the week after reports about possible easing of US regulations for marijuana drove up prices sharply on Friday.

After Canopy Growth shares ended Friday trading on the NASDAQ 53.98 percent higher at $1.74, they rose a further 7.47 percent to $1.87 on Monday premarket. Tilray’s shares temporarily rose by 5.76 percent to $12.85 before the market. They ultimately gained 44.13 percent to $12.15 on Friday.

Expected US regulatory changes today?

Cannabis stocks continue to be boosted by reports that US President Donald Trump plans to downgrade marijuana from List I to List III under federal law. This new classification would bring significant benefits to the industry, including tax benefits, easier access to banking services, as well as better financing options and easier medical use of cannabis products, without full legalization. According to CNBC, the US President could issue an executive order as early as Monday.

The shares of cannabis companies are therefore also in demand. As “Reuters” reports, Canopy Growth shares were temporarily among the most traded stocks on Tradegate on Monday, which indicates great interest from private investors in this sector.

Editorial team finanzen.net

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