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On December 17, Eastern Time, Tilray Brands options saw a total of 96126 contracts traded, with calls accounting for 75% and puts making up 24%.
On December 17, Eastern Time, Canopy Growth options saw a total of 130895 contracts traded, with calls accounting for 91% and puts making up 8%.
Most storage concepts rose, Micron Tech surged over 8%, SanDisk rose over 4%, and Western Digital rose over 2%; cannabis stocks climbed, Canopy Growth rose over 11%, and Tilray Brands rose over 6%
President Trump is expected to address the potential easing of federal marijuana regulations, considering an executive order to reclassify marijuana as a less dangerous drug. This could reshape the cannabis industry, ease criminal penalties, and unlock research funding. Cannabis stocks have risen on the news, and the industry is optimistic. Details of the policy are unclear, but reclassification could normalize cannabis policy and improve research and patient care.
Toronto's TSX index fell 26.87 points by noon, despite cannabis stocks rallying on expected U.S. policy changes. Curaleaf rose 9.3%, while Canopy Growth and Tilray Brands saw mixed results. Statistics Canada reported significant foreign investment in Canadian securities. On Wall Street, major indices dropped, led by declines in AI stocks. The U.S. job report showed a rise in unemployment to 4.6% in October, but November job additions exceeded expectations. Oil and gold prices increased, while Treasury yields rose slightly.
