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The surge could be a good sign showing that investor confidence in the cannabis industry is building going into 2020.
Rex Shares on Wednesday launched the first leveraged cannabis ETN in the US, called the MicroSectors Cannabis 2X Leveraged ETN, ticker MJO.
The Marijuana Opportunity Reinvestment and Expungement Act would "allow the sector to take a giant leap forward," said Ben Curren of Green Bits.
The earnings boost came at a time when brokerages are looking to offset revenue lost from cutting commissions on trading to zero.
The largest marijuana company in the US spikes after its chairman says business is booming and the company will be profitable next year
"The US industry is turning around," said Boris Jordan, chairman of Curaleaf's board of directors. Shares gained as much as 6%.
Canadian weed producer CannTrust plummets the most on record after regulators say it grew pot in unlicensed rooms
"We made errors in judgement, but the lessons we have learned here will serve us well moving forward," said Peter Aceto, CEO of CannTrust.
Weed stocks valuations approach 100x sales despite the fact they cannot operate in the US. Federal legislation is required to operate in the US.
Aphria on Friday announced its CEO, Vic Neufeld, and its cofounder Cole Cacciavillani would transition out of their executive roles.
Tilray jumped 18% late Wednesday after it announced a partnership with AB InBev to research non-alcohol beverages containing THC and CBD.
The cannabis producer Cronos spikes after confirming it has held talks with the Marlboro maker Altria
The cannabis producer Cronos Group confirmed Tuesday that it held talks with the cigarette maker Altria about Altria taking a stake in the company.