Marijuana Stocks Mixed Despite These Boosts From Trump, Canada

Marijuana stocks Canopy Growth (CGC) and Cronos Group (CRON) were mixed on Friday, even after President Trump said he would “probably” back marijuana-friendly legislation in the U.S. and Canada’s senate voted a day earlier to legalize recreational marijuana — with conditions.

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But one analyst suggested the slide in some marijuana stocks could be simple profit-taking following the clearing of a big obstacle in Canada.

Trump on Friday made the remarks outside the White House in response to a question from the media on whether he would support a bill that would keep the federal government from intruding on states’ efforts to regulate marijuana. Sens. Elizabeth Warren, D-Mass., and Cory Gardner, R-Colo., introduced the bill on Thursday.

“I support Senator Gardner,” Trump said, according to Politico. “I know exactly what he’s doing, we’re looking at it. But I probably will end up supporting that, yes.”

Trump’s remarks put him

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