Cannabis Stocks Surge Then Plummet On News That Biden Is Bowing Out Of 2024 Presidential Race
President Joe Biden’s announcement that he will not seek re-election has impacted the cannabis stock market. The sector’s reaction varied, reflecting investor sentiment and market speculation about future regulatory changes under a potential new administration. This analysis, derived from Benzinga Pro data, highlights the key movements among popular cannabis stocks 24 hours after the announcement.
Biggest Losers
Several cannabis stocks faced a downturn following the announcement. Curaleaf Holdings (OTC: CURLF) decreased by 1.3986% to $4.23. Jushi Holdings (OTC: JUSHF) dropped by 5.0847%, reaching $0.56. Green Thumb Industries (OTC: GTBIF) fell by 2.3444% to $11.455. Trulieve Cannabis (OTC: TCNNF) decreased by 1.1508% to $10.6. Cresco Labs (OTC: CRLBF) dropped by 1.7341%, reaching $1.7.
Biggest Winners
Conversely, ohter cannabis stocks saw gains following the announcement. Aurora Cannabis (NASDAQ: