Marijuana Stocks Spiked After Jeff Sessions Resigned

[douglas9]

Jeff Sessions is gone, and marijuana advocates—and the businesses that serve them—are celebrating. Forced out by President Donald Trump, Sessions tendered his resignation as the attorney general on Wednesday afternoon, and his departure has signaled the fall of a major political roadblock to more widespread legalization. In response, stock prices for cannabis businesses have leapt.

Nasdaq’s Alternative Harvest Marijuana ETF, a fund that bundles tradable assets for the cannabis industry, was up 5.6 percent in the hour after the Sessions announcement, with a peak share price of $36.97—a nearly $2 gain for the fund. On the day, the fund was up more than 7 percent at the close of trading.

Individual cannabis-company stocks are also seeing the effects of Sessions’s departure. According to CNBC, the Canadian company Tilray got a boost of 30 percent in the day’s trading, along with jumps of more than 8 percent for both Canopy Growth and Aurora Cannabis. All of these companies continued to see gains in the immediate extended-hours trading.

https://www.theatlantic.com/health/archive/2018/11/jeff-sessions-resignation-weed-stocks/575296/

[workinclasszero]

1. Heck ya!

Sessions was a big anti-cannabis idiot.

[OriginalGeek]

2. the annoying thing is just before that I saw an ad

for an app that helps you invest in cannabis stocks. I almost downloaded it to check it out...I bet I could have made buck but too late now lol. still might eventually...