Why Aurora Cannabis, Aphria, and HEXO Shares Rose Again Today

Several marijuana stocks have continued to move up today. Shares of Aurora Cannabis (NYSE:ACB)Aphria (NASDAQ:APHA), and HEXO (NYSE:HEXO) are up 15%, 8%, and 20% respectively, as of 2 p.m. EST…

While Aphria does have specific news that should fundamentally help the company, the moves are generally a continuation of a trend that has been ongoing since the Nov. 3 election.

Canada-based marijuana producer Aphria announced today that it has closed on its previously announced acquisition of U.S. craft brewer SweetWater Brewing Company. But the overall upward trend in marijuana stocks has been due to the potential easing of restrictions the sector may see under a Biden administration.

Pot stocks have gained momentum since the five states that had related ballot initiatives all passed them on Election Day. Prior to the election, during the vice presidential debate on Oct. 7, Kamala Harris said a Biden-Harris administration would “decriminalize marijuana and we will expunge the records of those who have been convicted of marijuana.”

Since Election Day, shares of Aphria, HEXO, and Aurora are up between 60% and…

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