Why Canopy Growth, Tilray, and Cronos Group Stocks Just Cratered
CGCCanopy Growth(CGC) The Motley Fool·2024-05-02 03:13

Investors are taking profits on marijuana stocks today, but the long-term trend still looks up. Easy come, easy go. Yesterday, shares of cannabis companies like Canopy Growth (CGC -25.96%), Tilray Brands (TLRY -17.01%), and Cronos Group (CRON -7.14%) all soared on news that the U.S. Drug Enforcement Administration (DEA) has agreed to recommend downgrading marijuana from a Schedule I drug to a Schedule III drug. Already today, the high is starting to wear off. As of 11:15 a.m. ET Wednesday, Canopy Growth sto ...