Stocks of cannabis companies rose Wednesday after Amazon voiced support for a federal bill to legalize marijuana and declared it will no longer screen for marijuana for any position not regulated by the Department of Transportation.
Shares of Canopy Growth were up 1.52%, Cronos Group rose 1.2%, Tilray gained 1.5%, and Hexo was up nearly 1% in premarket trading.
Dave Clark, Amazon’s worldwide consumer CEO, said in a blog post that its public policy team will be actively supporting The Marijuana Opportunity Reinvestment and Expungement Act of 2021 (MORE Act).