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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index added 4.11 to 167.89, while the CSE Composite Index added 5.38 to 714.25. All eyes continued to be on Georgia, where Democratic challengers Raphael Warnock and Jon Ossoff won the Senate run-off elections, unseating Republican incumbents Kelly Loeffler and David Perdue. As discussed in yesterday's Cannabis Summary, these elections are seen as pivotal for the U.S. cannabis industry. The victories of Mr. Warnock and Mr. Ossoff effectively flip the Senate and give the pro-reform Democrats control of both chambers of Congress. Several U.S.-focused cannabis stocks went on a run today, including Canopy Growth Corp. (WEED), up $3.92 to $38.14, Aphria Inc. (APHA), up $1.12 to $10.60, and Cronos Group Inc. (CRON), up $1.36 to $10.93.

Georgia was not the only state making cannabis headlines. In New York, lawmakers representing nearly one-third of the state Senate have prefiled a bill to legalize recreational cannabis. While this is the fifth version of this bill since 2013, the lawmakers are hopeful that 2021 will finally be the year of advancement, given Americans' rising support of cannabis reform, the potential for new jobs and tax revenues to offset the economic damage of COVID-19, and the fact that the Democrats secured a supermajority in the New York Senate during the November election. Cannabis companies with a presence in this market include Vireo Health International Inc. (VREO), up 45 cents to $2.27, and Curaleaf Holdings Inc. (CURA), up $1.34 to $18.15.

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