Shares of cannabis companies rose on Wednesday following the results of the previous day’s U.S. elections.
Reuters reports the results pointed to favorable political conditions for the cannabis industry.
Shares of New Age Beverages Corp (NBEV.O), which has intentions to expand into cannabis products, climbed 20.1 percent.
U.S. shares of Canadian companies Canopy Growth Corp, Aurora Cannabis Inc, and Cronos Group Inc rose between 8 and 10 percent.
Michigan became the 10th state to approve recreational use of marijuana.
Missouri and Utah passed measures to legalize medical use of the drug.
The drug remains illegal under U.S. federal law.
This video was produced by YT Wochit Business using http://wochit.com