Investopedia
Shares of cannabis companies fell Wednesday after a ballot measure that would have legalized recreational marijuana in Florida failed to pass.1
The ballot measure would have legalized the use and sale of recreational cannabis from medical marijuana centers and other state-licensed entities.2 It received 55% of the vote, but amendments to the state constitution require 60% approval to pass.3
Medical marijuana has been legal in Florida since 2016. And Florida made the use of CBD, which is a chemical in marijuana, legal in 2019.45
Canopy Growth (CGC) shares plunged more than 20%, Aurora Cannabis (ACB) dropped 18%, and Tilray Brands (TRLY) lost over 13% intraday Wednesday.
More at
https://www.investopedia.com/cannabis-stocks-plummet-after-legalization-bid-fails-in-florida-8740568
