Canopy Growth stock soars on heavy volume again, amid cannabis investor optimism over possible favorable legislation

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Canopy Growth stock soars on heavy volume again, amid cannabis investor optimism over possible favorable legislation
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Shares of Canopy Growth Corp. shot up 21.7% toward a near four-month high in very active afternoon trading, putting them on track for the fifth double-digit...

Shares of Canopy Growth Corp. CGC, +24.32% shot up 21.7% toward a near four-month high in very active afternoon trading, putting them on track for the fifth double-digit percentage gain in seven sessions. The stock has rocketed 130% over the past seven session. Trading volume was 107.7 million shares as of Friday afternoon, to mark the fourth 100+-million-share volume day in the past six sessions, while the average volume over the past 30 days was about 36.3 million shares.

gained 2.4%, of Cronos Group Inc. climbed 6.0% and of Aurora Cannabis Inc. ACB, +12.86% jumped 12.5%. The AdvisorShares Pure US Cannabis ETF MSOS, +2.50% rose 7.5% on volume of 13.9 million shares, compared with the full-day average of about 5.6 million shares, while the S&P 500 SPX, +0.01% slipped 0.1%. The cannabis ETF has soared 77% over the past seven sessions.

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