Marijuana News Today: Pot Stock Market Stages a Big Rally

Marijuana News Today

Marijuana News Today

The pot stock market came roaring back this morning after a dismal showing over the past several days. Meanwhile, the marijuana news today also has us looking at the weed industry’s growing political influence.

As usual, we’ll start with the political side of things.

A recent New York Times profile of former Speaker of the House John Boehner details just how much the former political heavyweight has to gain from the pot business. (Source: “John Boehner: From Speaker of the House to Cannabis Pitchman,” the New York Times, June 3, 2019.)

“This is one of the most exciting opportunities you’ll ever be part of,” said Boehner. “Frankly, we can help you make a potential fortune.”


And Boehner is uniquely suited to help marijuana investors everywhere make that fortune. After all, there are few people in the U.S. with more political influence than the speaker of the House, and Boehner served in that role for many years.

Unlike the current batch of politicians, Boehner developed a reputation for being a bit of an aisle-crosser. He was by no means non-partisan, but he famously cultivated a friendship with then-president Barack Obama—something that was considered apostasy at the height of the political divide that punctuated many of Obama’s years as president.

That ability to be friendly to both sides makes Boehner perhaps the best vehicle to peddle marijuana reform to lawmakers, many of whom will be former friends of his.

Boehner sits on the board of Acreage Holdings Inc (OTCMKTS:ACRGF, CNSX:ACRG.U) and has a personal vested interest in seeing marijuana laws pass at the federal level in the United States.

When it comes to political influence of those not currently sitting in office, it’s hard to top Boehner. It is then a blessing to have him on board the marijuana train, pushing for legalization.

While he will not be able to single-handedly spur legislation forward, his influence will no doubt go a long way to expediting the process. And he’s motivated to get this done; few stand to make as much money as he does if marijuana is federally legalized.

A well-motivated, highly-connected individual with a good rapport among lawmakers is a very strong asset to have in your corner. Marijuana companies are going to reap the benefit of this influence the moment federal pot legislation gets passed in the United States.

CGC Stock

Aside from the political, the marijuana news today saw a tremendous performance by the pot stock market. While the past few days have been atrocious for pot stocks, today’s rebound saw many of those stocks up several points in early-morning trading.

One such company is Canopy Growth Corp (NYSE:CGC). CGC stock gained four percent in early-morning trading today, but is down almost double-digits over the past five days.

This is in keeping with many of its competitors, most of which have seen downturns over the past few days.

CGC stock, however, is also closely tied to the political side of the news, as Canopy Growth has the option to acquire Acreage Holdings and the obligation to do so when marijuana becomes federally legal in the United States.

Boehner, as I said, is on the board of Acreage Holdings, and therefore will become a very rich man if marijuana legalization is passed.

Canopy Growth probably has the most political influence globally than any other pot company. Between its size, its prominence in the industry, and a number of strong political figures associated with it, this producer is, without a doubt, the most influential marijuana company in the world.

That is likely going to pay off big-time when the federal marijuana laws are eventually written.

ACB Stock

Another company that is on the mend today is Aurora Cannabis Inc (NYSE:ACB). ACB stock gained 4.5% in early-morning trading today, although it has fallen by 10% over the past five days.

Still, despite its poor showing in recent weeks (a problem that has plagued most pot stocks) there’s still a lot to like about Aurora Cannabis.

The company is still looking strong after its recent quarterly report showed that its revenue growth averaged 20% in all key markets, with strong gains over the previous quarter. (Source: “Aurora Cannabis Announces Financial Results for the Third Quarter of Fiscal 2019,” Cision, May 14, 2019.)

The growth was driven by Aurora’s successful scale-up of production and its continued strong performance in the Canadian recreational and medical marijuana markets, as well as the international medical market.

That has helped propel Aurora Cannabis stock forward and regain some of the momentum it had lost in 2018, when the stock stalled for much of the year.

Formerly a favorite marijuana stock of mine, ACB stock is retaking that position as it continues to build up investor confidence. One or two more big moves (partnerships or acquisitions) could help push this stock to even loftier heights.

TLRY Stock

The final bounceback we’ll be taking a look at comes from Tilray Inc (NASDAQ:TLRY). Tilray stock climbed 4.5% in early-morning trading today, but the stock has taken an absolute drudging over the past five days, down 15%.

I’ve been writing for a long time now that I had expected TLRY stock to break below $40.00. That has now happened, and the bottom continues to fall out.

Tilray stock, in my opinion, is still far too unstable to recommend. The stock is plummeting continuously down from its massive initial-public-offering spike. Until it hits a reasonable price that investors and analysts feel comfortable with, those declines will continue to wreak havoc on the Tilray share price.

With that in mind, I’d steer clear of TLRY stock for the time being, as the company continues to face declines for the near future.

CGC, ACB and TLRY Stock Performances

The performances of CGC stock (black line), ACB stock (blue line) and TLRY stock (red line) over the past week are seen in the chart below.

Chart courtesy of

Analyst Take

There’s no doubt in my mind that marijuana reform is on its way in the U.S.—the marijuana news today only solidifies that belief.

With all the political machinations working in pot’s favor, from strong political influence to potential presidents using marijuana reform as a feature of their campaigns, the U.S. is speeding toward a pot-legal future. People like John Boehner are helping to accelerate that process. And the faster the better.

As for the pot stock market, we saw a huge rally today, but the sector overall has been in the dumps over the past few days and could use some good news.