Cannabis Stocks React To Trump's Marijuana Comments: See Which Ones Posted Solid Gains

Former President Donald Trump announced on Sunday night that, if re-elected, he would reschedule cannabis and support banking reforms for the marijuana industry. He also confirmed his support for Florida's Amendment 3, which would legalize recreational cannabis in the state. Trump's comments sparked a reaction in the cannabis stock market on Monday.

Get Benzinga's exclusive analysis and top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter here. If you're serious about the business, you can't afford to miss out.

Stocks Reaction

• Trulieve Cannabis TCNNF: The price at market close was $10.99 with a change of +$1.28 (+13.18%). Trading volume reached 707,392, with a market cap of $2.06 billion.
• Green Thumb Industries GTBIF: The price at market close was $10.66 with a change of +$1.02 (+10.58%). Trading volume hit 473,092, with a market cap of $2.52 billion.
• Curaleaf Holdings CURLF: The price at market close was $3.10 with a change of +$0.26 (+9.15%). Trading volume reached 639,920, and the market cap stood at $2.09 billion.
• Canopy Growth CGC: The price at market close was $4.86 with a change of +$0.38 (+8.54%). Trading volume was 6,041,892, with a market cap of $412 million.
• Sundial Growers SNDL: The price at market close was $2.14 with a change of +$0.16 (+8.08%). Trading volume hit 1,946,306, and the market cap was $530 million.
• Aurora Cannabis ACB: The price at market close was $5.80 with a change of +$0.39 (+7.25%). Trading volume was 1,136,294, with a market cap of $317 million.
• Cronos Group CRON: The price at market close was $2.21 with a change of +$0.07 (+3.27%). Trading volume reached 1,448,055, with a market cap of $847 million.
• HEXO Corp HEXO: The price at market close was $1.35 with a change of +$0.05 (+3.85%). Trading volume was 1,215,840, with a market cap of $401 million.
• AdvisorShares Pure US Cannabis ETF MSOS: The price at market close was $7.16 with a change of +$0.75 (+11.70%). Trading volume hit 13,998,304.
• Innovative Industrial Properties IIPR: The price at market close was $122.69 with a change of +$2.02 (+1.67%). Trading volume was 90,181, with a market cap of $3.42 billion.
• GrowGeneration GRWG: The price at market close was $1.92 with a change of +$0.05 (+2.96%). Trading volume hit 454,306, and the market cap was $110 million.
• Corbus Pharmaceuticals CRBP: The price at market close was $52.48 with a change of +$2.43 (+4.87%). Trading volume was 153,424, with a market cap of $630 million.
• AdvisorShares Pure Cannabis ETF YOLO: The price at market close was $3.35 with a change of +$0.21 (+6.69%). Trading volume reached 37,519.
• Scotts Miracle-Gro SMG: The price at market close was $67.62 with a change of -$0.20 (-0.29%). Trading volume reached 323,540, with a market cap of $3.85 billion.
• Village Farms International VFF: The price at market close was $1.01 with a change of +$0.01 (+1.02%). Trading volume hit 459,136, and the market cap was $113 million.
• Trees CANN: The price at market close was $0.042 with a change of -$0.012 (-22.22%). Trading volume was 118,407.
• Medical Marijuana MJNA: The price at market close was $0.001 with no change. Trading volume hit 9,393,761, with a market cap of $5.68 million.
• OrganiGram Holdings OGI: The price at market close was $1.83 with a change of +$0.08 (+4.29%). Trading volume was 348,054, with a market cap of $186 million.
• High Tide HITI: The price at market close was $2.12 with a change of +$0.16 (+8.16%). Trading volume hit 648,008, with a market cap of $162 million.
• Planet 13 Holdings PLNHF: The price at market close was $0.96 with no significant change. Trading volume was 275,004.
• Cresco Labs CRLBF: The price at market close was $1.74 with a change of +$0.13 (+7.74%). Trading volume hit 438,517, with a market cap of $565 million.

Highs And Lows In 2024 

The cannabis market has experienced several significant stock movements in recent months. On April 30, 2024, stocks soared after the DEA announced plans to reschedule cannabis to Schedule III, with Canopy Growth jumping by 78.8% and Aurora Cannabis rising 46%. 

However, two weeks ago, following the DEA's decision to delay its final ruling, the sector saw a sharp decline, with Curaleaf falling 15.68% and Green Thumb Industries dropping 10.15%. In contrast, Monday's gains following Trump's support for Amendment 3 were more modest, with a mean growth of 4.31%, suggesting a recovery but not on the same scale as the April surge.

Read Next: Trump ‘Joins Millions Of Americans’ Who Support Rescheduling Cannabis: Weed Industry Responds To Former Pres’ News