The ETFMG cannabis stocks exchange-traded fund, which has more than doubled in value since November's US presidential elections, gained nearly 10 per cent, while the broad S&P 500 index was up by a tiny fraction.
Shares of GameStop have fallen more than 85 per cent since their closing peak of $US347.51 on January 27, capping a wild ride that illustrated the power of retail investors trading on commission-free platforms such as Robinhood to influence financial markets. Changes promised by some Democrats in Congress could help give US cannabis companies access to more traditional methods of banking and open the sector to new, institutional investors.
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The takeaway here for Australia is, legalise weed...