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Cannabis stocks fall as Aphria rejects bid, CBD crackdown spreads

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Cannabis stocks were mostly lower yesterday after Canadian cannabis company Aphria Inc. rejected a hostile takeover bid from Green Growth Brands Inc.

Aphria officials said the deal valuing the company at roughly $2.1 billion wasn't adequate.

Stocks in the cannabis industry also were down on news that New York City is cracking down on drinks and edibles that contain CBD, or cannabidiol, a non-psychoactive ingredient in cannabis.

Read more from MarketWatch.

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