The stock of Canopy Growth (WEED.TO), after decreasing from C$29.58 on June 17 to C$28.68 on June 18, the price increased by fluctuating to C$30.69 on June 28. Then stock declined by fluctuating from C$30.69 to C$27.37 on July 8. Finally, after slightly rising C$27.66 on June 12 and leveled off to the next day, the price fell to C$25.64 on July 15. Democratic senators finally submitted a bill to repeal the federal ban on marijuana. This may be due to the fact that some consider the proposal to establish an excise tax on as high as 25% to redistribute part of this income to non-white communities as too progressive to gain the republican support needed for the Senate to pass. Other members of the business community have long expected more moderate federal reforms.
Despite a drop of almost 8% in Canadian cannabis giant Canopy Growth, which entered the US market. According to Canopy Growth CEO David Klein that Americans want and must put an end to the ban on cannabis. They overwhelmingly support this when you see the results of surveys, for example, there was a survey recently that showed that 91% of adults in America support legalized cannabis. And therefore, for me, the bill simply represents, perhaps, the beginning of a new beginning of the legislative path for this to be done.