Cannabis Stocks Surge As Election Opens New Markets

By Staff Reporter
Posted on 11/26/20 | News Source: Newsmax

Cannabis stocks are flying high after voters in New Jersey, Arizona and three other states cleared the way for expanding legal sales of marijuana.

Shares in some of the biggest cannabis companies, including Aurora Cannabis (ACB), Canopy Growth (CGC) and Cresco Labs (CRLBF), are up between 24% and 75% so far this month. By comparison, the benchmark S&P 500 index is up 11%.

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Investors are encouraged because the successful ballot initiatives broaden the potential market for legal cannabis sales and show marijuana is becoming increasingly more accepted throughout the U.S.

The stocks began rallying after Election Day. Voters in New Jersey, Arizona, Montana and South Dakota approved legalizing sales of marijuana for adults. South Dakota also approved sales for medical use, as did Mississippi.

Read more at NEWSMAX.