Pot Stocks Pop After Michigan Legalizes Recreational Cannabis Use - TheStreet

Pot stocks were in focus Wednesday after voters in Michigan chose to legalize recreational marijuana. Michigan became the 10th U.S. state to legalize recreational cannabis. 

Michigan joins Washington, Oregon, California, Nevada, Colorado, Maine, Vermont, Massachusetts, Alaska. The District of Columbia also has legalized recreational marijuana use.

Pot stocks were climbing sharply on the news. 

Tilray Inc. (TLRY) - Get Report jumped 11%.

Canopy Growth Corp. (CGC) - Get Report rose 0.42%. 

Aurora Cannabis Inc. (ACB) - Get Report gained 1.9%.

Cronos Group Inc. (CRON) - Get Report  fell 0.44%. 

ETFMG Alternative Harvest ETF (MJ) - Get Report increased 1.7%. 

Pot stocks have been some of the most hotly traded in recent weeks as mainstream acceptance, investments from the the alcohol industry, and full legalization of cannabis in Canada last month have suggested a brighter future for the multi-use plant. 

It wasn't all good news for marijuana interests at the polls Tuesday, however, as a measure to legalize recreational use in North Dakota was defeated.

Medical marijuana legalization bills passed in Utah and Missouri.

More than 20 other states allow marijuana use for medicinal purposes.