You Should Be Watching Cannabis, Gun, And Prison Stocks This Election Week

  • 📰 Forbes
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 53%

United States News News

United States United States Latest News,United States United States Headlines

Cannabis shares will rally on a Biden win and prison stocks will likely plummet.

Investors are hoping for a decisive result on Election Day and bracing for volatility and uncertainty in the event that the winner isn’t clear on Tuesday evening, but movement in these sin stocks gives some insight into the outcome markets are anticipating. ... [+]Shares of firearm manufacturer Smith & Wesson rose 1.6% on Tuesday and are up more than 17% year to date, while shares of Vista Outdoor, parent to a number of ammunition companies, climbed 1.

Shares of gun stocks like these are rising as investors look ahead towards the stricter firearm restrictions that they anticipate will follow a win for former vice president Joe Biden win or a Democratic Senate takeover, as well as the potential for civil unrest in the event of a contested election result.

Shares of cannabis companies are also on the rise, with Trulieve Cannabis Corp. up 24% year to date and the AdvisorShares Pure Cannabis ETF up 1.8% on Tuesday and 12% for the year. Cannabis shares are up for similar reasons: investors are looking ahead to favorable policies for cannabis and the prospect of legalization in several states.

Shares of CoreCivic and GEO Group—two major private prison companies in the United States—are down 57% and 41% for the year, respectively.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Not many gun stocks

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in US

United States United States Latest News, United States United States Headlines