Published on 21 Nov 2024 on Benzinga
Cannabis Stocks Feel The Burn: Matt Gaetz Bows Out As Trump's Attorney General...
Cannabis stocks reacted with mixed results on Thursday after Matt Gaetz withdrew his nomination for U.S. Attorney General amid allegations of sexual misconduct, drug use, lack of legal experience and more. Last week, President-elect Donald Trump nominated Gaetz who is a long-time supporter of cannabis legalization.
While Gaetz's exit may not be directly tied to the sector's performance, multi-state operators (MSOs) and cannabis ETFs recorded notable declines, reflecting ongoing investor jitters in a politically sensitive market.