We are closely watching the developments on that front, as marijuana legalized at a federal level can unlock significant value for investors. Marijuana investors have lost a lot of wealth in this sector over the past couple of months. For example, Tilray (TLRY), which has lost nearly 57% YTD, popped 10% yesterday but reversed that gain today.

Innovative Industrial Properties (IIPR) was also down 6% while Canopy Growth lost nearly 4% today. The overall market sentiment for cannabis stocks has remained negative.

However, Aphria (APHA) has lifted the sector’s mood with its better-than-expected earnings. For more information, please read Aphria’s Strategic Growth Initiatives Drive APHA Stock.

Note: Due to a typographical error, an earlier version of this article inaccurately described the results of the North Carolina House vote.