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Pot Stocks Gain With U.S. House to Vote on Decriminalization

California Cannabis Dispensaries Deemed Essential Services During Coronavirus Orders
Photographer: David Paul Morris/Bloomberg

Pot stocks jumped after an updated U.S. House schedule showed a vote will be held on marijuana decriminalization next week.

The BI Global Cannabis Competitive Peers index, which had been trading lower before the announcement, quickly gained 3% to the highest since Feb. 10. Aurora Cannabis Inc. rose 16%, Tilray Inc. jumped 14%, Harvest Health & Recreation Inc. added 11% and Cronos Group Inc. gained 8.6%.