Tilray Brands Inc (TLRY)

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TLRY,APHA: Recreational marijuana laws signed in New Jersey, but cannabis names down

TLRY : Recreational marijuana laws signed in New Jersey, but cannabis names down • 2:35 PM

New Jersey Gov. Phil Murphy (NYSE:D) today signed a series of laws that legalize the possession of marijuana for recreational use.

Adults 21 years of age and older can possess 6 ounces of cannabis.

The laws allow for the setup of state-licensed dispensaries, though it is likely to be at least a year before those open for business.

Last November, New Jersey voters overwhelmingly voted in favor of a ballot measure for legalization.

New Jersey is now the 13th state in the country to legalize marijuana for recreational purposes, and just the fourth on the East Coast (the others are Maine, Massachusetts, and Vermont) to do so.

Cannabis stocks this afternoon: Tilray (NASDAQ:TLRY) -6.2%; Aphria (NASDAQ:APHA) -1.9%; Canopy Growth (NYSE:CGC) -2.9%; Cronos Group (NASDAQ:CRON) -3.5%; Aurora Cannabis (NYSE:ACB) -2.2%; HEXO Corp. (NYSE:HEXO) -4.2%.