Why Marijuana Stock OrganiGram Holdings Shot Almost 13% Higher on Thursday
One of the smaller marijuana companies on the stock market, Canada's OrganiGram Holdings (NASDAQ: OGI) punched above its weight class on Thursday, closing the day 12.9% higher. It was generally a fine, double-digit-rise day for marijuana stocks due to the latest political developments in that country's big, noisy neighbor to the south.
On Thursday, which was (ahem) two days after the presidential election, it became increasingly likely that the Joe Biden/Kamala Harris ticket would ascend to the White House. Cannabis advocates and pot stock investors generally favor these candidates heavily over the Donald Trump/Mike Pence incumbency because Harris has stated that they would decriminalize marijuana if elected.
Image source: Getty Images.
Source Fool.com