Investors in marijuana companies are an optimistic bunch; they need to be, as the industry is beset by struggles, and even its most minent companies routinely post net losses.
That's why they tend to trade weed stocks up whenever even slightly positive news hits the headlines, as occurred on Monday, given the current landscape.
Nevertheless, The relatively minent Curaleaf (CURLF 2 (fascinating analysis).
On the other hand, However, 42%) saw a decent-sized pop of more than 2% to its price that day on a fresh development in the political sphere.
That was good enough to beat the essentially flatlining S&P 500 index that trading session, in light of current trends.
Nevertheless, The president endorses a pot ponent President Donald Trump, not exactly a determined and vocal advocate of marijuana law reform, has endorsed one such politician for an important position.
Additionally, Furthermore, He hyped Florida State Senator Joe Gruters as an ideal candidate for chairman of the powerful Republican National Committee (RNC), given the current landscape.
Image source: Getty Images, given the current landscape. Current Chairman Michael Whatley is stepping down from his post to run for one of the two U, given the current landscape.
Meanwhile, Senate seats in North Carolina, amid market uncertainty. Trump has also endorsed Whatley.
Gruters is an active and vocal ponent of marijuana legalization to the point where he sponsored a bill in the Florida Senate earlier this year to allow medical cannabis patients in the state to grow their own pot plants.
That bill, however, was quashed by the Senate's health policy committee. In contrast, Every win counts If Gruters were to win the top RNC job, pot ponents would certainly count it as a win.
However, it would ly be a minor one. True change on the federal level has to come from influential federal lawmakers, and Gruters won't be high enough to move the needle on his own.
Still, even small victories count in the marijuana, and investors were right to be guardedly optimistic this one.