Tilray, Trulieve And Other Cannabis Stocks Nosediving As Industry Faces New Wave Of Political Uncertainty
The cannabis market is experiencing a rough patch after election day, with many top U.S. and Canadian cannabis stocks under pressure following Donald Trump‘s victory, the prospect of a GOP-controlled Senate and Florida’s rejection of Amendment 3 that would have legalized cannabis.
As of Wednesday mid-morning, key cannabis players experienced notable drops in share prices, reflecting investor caution and panic sales as the sector faces a wave of political uncertainty.
For instance, shares of cannabis leader Tilray Brands Inc (NASDAQ:TLRY) are trading at $1.53, down $0.25, or -13.7%. Tilray’s chart shows a sharp decline with increased trading volume nearing 10 million shares.
Chart created using Benzinga Pro
Here’s how other top U.S. and Canadian cannabis stocks are trading as of Wednesday mid-morning: