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Cannabis stocks are on the move Monday as investors react to the news that recreational marijuana is now legal in Germany.
These new laws do come with some restrictions worth pointing out. That includes age limits. Individuals are allowed to carry 25 mg of marijuana on their person. Those 18 and older can also join cannabis clubs to purchase their marijuana.
Through these cannabis clubs, German residents can buy 25 mg of marijuana a day or up to 50 mg per month. That limit is lowered to 30 mg per month for people under 21.
Finally, the law also allows people to grow their own marijuana plants. This allows Germans to have three total plants alongside the 25 mg they can hold at a time.
Cannabis companies are celebrating today’s news as this is a win for marijuana stocks. Even so, cannabis stocks are sliding on Monday. Let’s check that out below.
Cannabis Stocks Falling Today
- Tilray (NASDAQ:TLRY) stock starts us off on Monday morning with a 2.6% drop.
- Canopy Growth (NASDAQ:CGC) stock is next with a 4.8% fall as of this writing.
- SNDL (NASDAQ:SNDL) stock is dropping 2.6% as of Monday morning.
- Aurora Cannabis (NASDAQ:ACB) stock is sliding 2.5% lower as of this morning.
Investors seeking out even more of the most recent stock market stories are going to want to stick around!
We have all of the hottest stock market stories worth reading about on Monday! Among that is what has shares of Tesla (NASDAQ:TSLA), X3 Holdings (NASDAQ:XTKG) and Mountain Crest Acquisition Corp (NASDAQ:MCAF) stock moving today. All of that news is available at the links below!
More Monday Stock Market News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Article printed from InvestorPlace Media, https://investorplace.com/2024/04/cannabis-stocks-alert-recreational-marijuana-just-became-legal-in-germany/.
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