Why Aurora Cannabis, Tilray, Hexo, and Sundial Investors Are Panicking Today

Why Aurora Cannabis, Tilray, Hexo, and Sundial Investors Are Panicking Today

What happened Call it a "Reefer Madness" moment. In a flashback to the classic 1936 anti-drug film, marijuana investors got spooked today by news reports of health concerns among cannabis consumers -- and it's playing havoc with marijuana stocks. In 1:55 p.m. EDT trading: - Aurora Cannabis (NASDAQ:ACB) fell 3.5%; - Hexo (NYSE:HEXO) has lost 3.8%; - Sundial Growers (NASDAQ:SNDL) stock is down 4.4%; - and Tilray (NASDAQ:TLRY) got thrown for a 4.7% loss. So what Separate articles published on major news sites over the past couple of days included: - Recounting stories of children eating cannabis gummies and suffering overdoses (CBS); - Citing a study linking a rising incidence of schizophrenia to "problematic use of marijuana" (CNN); - and quoting an anti-marijuana activist calling it a "highly processed product" that's a source of "cannabis-induced psychosis" (Fox News). Now what These negative media mentions come at the same time when two competing marijuana legalization bills are making their way through the U.S. Senate and House, respectively -- and they come at the same time when President Biden is considering whether …
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