09:09 AM EDT, 04/02/2024 (MT Newswires) -- Shares of cannabis companies Canopy Growth ( CGC ) , Aurora Cannabis ( ACB ) , and SNDL ( SNDL ) were rising in Tuesday's premarket activity after the Florida Supreme Court approved a ballot initiative Monday to legalize the personal use of marijuana by adults.

Floridians will vote on the measure in November.

Florida Attorney General Ashley Moody filed a brief in opposition to the initiative, arguing that the ballot summary failed the statutory standard for clarity. However, the court rejected their argument and ruled that the ballot summary "is not misleading."

Shares of Canopy Growth ( CGC ) and Aurora Cannabis ( ACB ) were up more than 1% in recent premarket activity, while shares of SNDL ( SNDL ) were marginally up and Tilray Brands ( TLRY ) were down more than 1%.

Price: 7.65, Change: +0.12, Percent Change: +1.59