U.S. equities mostly moved higher today after last night’s elections. The S&P 500 continues to set new record highs, 36th of the year, to close up 0.54% to 2023.
Daily Positive: Strength has emerged in the Canadian medical marijuana companies after a detailed and positive research report was released on Tweed Marijuana Inc. (TWD.V). Tweed surged over 17% for the day.
Daily Negative: Cannabis investors saw a sea of red this morning as selling was broad-based and aggressive following the run up to elections. Elections were a major catalyst, but this event has passed and investors are looking to the next actionable event.
Kudos to those who got out and voted! The elections yesterday are a great movement forward for the cannabis industry. It will take some time for the states to roll out their policies to become effective, but the people have showed that the cannabis wave is difficult to contain. Even in Florida, the voter turnout in favor of Amendment 2 was 58%. This is a clear demonstration that even with a heavily funded anti-cannabis campaign, there is great interest.