U.S. cannabis shares are seeing a strong lift in premarket trading Monday after former President Donald Trump shared a video on social media Sunday discussing the potential health benefits of hemp-based CBD for seniors.
Major players in the cannabis sector experienced notable gains. Tilray (NASDAQ:TLRY) jumped 18%, Cronos Group (NASDAQ:CRON) added 10%, and Canopy Growth (NASDAQ:CGC) led the group with a 19% increase.
The Amplify Alternative Harvest ETF, which tracks cannabis companies, also rose sharply, climbing 13% in early trading.
Trump’s post highlighted the possible advantages of CBD products derived from hemp, particularly for older Americans, fueling investor enthusiasm across the sector.
Canopy Growth Corp stock price
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.