Yahoo Finance Live looks at cannabis-tied shares following President Biden's signing of a marijuana research bill.
Cannabis investors today are reacting to a historic development in the industry on Friday. Tilray shares soared nearly 12%, while Aurora and SNDL stocks were up between about 6% and 7% in early trading.
The cannabis industry is experiencing rapid growth. According to Allied Market Research, if estimates are correct, it could be worth $149 billion by 2031. While Canadian pot stocks have a legal market to grow in, the market is modest compared to the U.S. Meanwhile, U.S. cannabis stocks continue to defy expectations even in a limited state market.