Cannabis stocks surge after Trump administration sets formal transition in motion

Clorox Co

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Consumer Staples : Household Products | Mid Cap Blend

Company profile

The Clorox Company is a manufacturer and marketer of consumer and professional products. The Company sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Company operates through four segments: Cleaning, Household, Lifestyle and International. Its Cleaning segment consists of laundry, home care and professional products marketed and sold in the United States. Its Household segment consists of charcoal, cat litter and plastic bags, wraps and container products marketed and sold in the United States. Its Lifestyle segment consists of food products, water-filtration systems and filters, and natural personal care products marketed and sold in the United States. Its International segment consists of products sold outside the United States. It markets some of the consumer brand names, such as namesake bleach and cleaning products, Pine-Sol cleaners, Liquid-Plumr clog removers and Kingsford charcoal.

Cannabis stocks surge after Trump administration sets formal transition in motion

10:46 am ET November 24, 2020 (MarketWatch) Print

Shares of cannabis companies rallied Tuesday, after the Trump administration made its first move late Monday to accept Joe Biden as president-elect by saying it was ready to begin the formal transition process (http://www.marketwatch.com/story/gsa-gives-biden-approval-to-begin-official-transition-process-11606174181). The ETFMG Alternative Harvest ETF (MJ) surged 6.1% in premarket trading. It had shot up nearly 20% in the days following the election, on expectations Joe Biden will push for cannabis reform, then pulled back as President Trump continued to dispute the results. Among the more-active cannabis stocks in the premarket, the U.S.-listed shares of Aurora Cannabis Inc. soared 29.5%, Tilray Inc. (TLRY) shot up 19.2%, Canopy Growth Corp. (WEED.T) climbed 7.6% and Cronos Group Inc. (CRON.T) ran up 10.4%. The MJ ETF has rallied 26.5% so far this month through Monday, while the S&P 500 has advanced 9.4%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

November 24, 2020 10:46 ET (15:46 GMT)