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 (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%.). The
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
November 24, 2020 10:46 ET (15:46 GMT)
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