Cannabis Stocks React To Biden Announcement: Monday's Closing Market Moves

The cannabis sector witnessed significant movement today, with varied performances across key stocks and ETFs following President Joe Biden’s Sunday announcement that he will not seek re-election. The news created ripples in the market, reflecting investor sentiment and speculation about future regulatory changes.

Biggest Winners

• Aurora Cannabis ACB: Increased by 9.04% to $6.02. Positive sentiment is driven by strategic partnerships.
• Village Farms International VFF: Rose by 7.41% to $1.09. The stock benefited from operational efficiency news.
• Tilray Brands TLRY: Saw a rise of 6.70% to $1.87. Investor optimism on future growth prospects in Germany.
• SNDL SNDL: Experienced an increase of 9.66% to $2.22. Strong earnings and cash flow, reports boosted the stock.
• Medicine Man Technologies SHWZ: Saw a remarkable gain of 100.00% to $0.30.
• OrganiGram Holdings OGI: Rose by 6.67% to $1.74.
• Innovative Industrial Properties IIPR: Gained 1.56% to $120.13. Stable financial performance attracted investors.
• Cronos Group CRON: Increased by 3.78% to $2.45.
• Canopy Growth CGC: Increased by 16.7% to $7.84.

Multi-State Cannabis Operators In The USA

• Curaleaf Holdings CURLF: Increased by 3.13% to $4.28.
• Jushi Holdings JUSHF: Up by 7.27% to $0.59.
• Green Thumb Industries GTBIF: Was up by 4.04% to $11.60.
• Trulieve Cannabis TCNNF: Was also up, at the last minute, by 3.78% to $10.75.
• Cresco Labs CRLBF: Rose by 6.42% to $1.74.

Performance Of Cannabis ETFs

• AdvisorShares Pure Cannabis ETF YOLO: Rose by 4.84% to $3.58.
• AdvisorShares Pure US Cannabis ETF MSOS: Experienced a gain of 5.67% to $7.83. Increased activity and positive sentiment drove the ETF higher.

Read Next: What Is The Trump Factor? Justice Dept's Impact On Cannabis Rescheduling, Stocks And Investments

These issues will be among the hot topics at the upcoming Benzinga Cannabis Capital Conference in Chicago this Oct. 8-9. Join us to get more insight into what the wave of weed legalization means for the future of investing in the industry. Hear directly from top executives, investors, advocates, and policymakers. Get your tickets now before prices go up by following this link.

Photo: AI-Generated Image. 

Disclosure: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.