Cannabis Stocks Jump on Trump Marijuana Review; Lithium Stocks Rally as CATL Shuts Major Mine

Tiger Newspress

Aug 11

US President Trump is considering reclassifying marijuana as a less dangerous drug, according to people familiar with the matter, after pot companies have poured millions of dollars into Trump’s political groups, the Wall Street Journal reported.

Cannabis stocks surged in morning trading on Monday. Tilray rose 21%; Canopy Growth rose 19%; Cronos and SNDL rose 12%; Aurora Cannabis rose 11%; Organigram rose 6%.

Lithium prices and stocks spiked on Monday after battery giant Contemporary Amperex Technology Co. Ltd. halted operations at a major mine in China, spurring speculation that Beijing might move to suspend other projects as it tackles overcapacity across the economy.

U.S.-listed lithium stocks surged in morning trading on Monday. Lithium Americas rose 13%; Piedmont Lithium and Albemarle rose 9%; Ioneer rose 8%; American Battery rose 6%.

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Tilray rose 21%; Canopy Growth rose 19%; Cronos and SNDL rose 12%; Aurora Cannabis rose 11%; Organigram rose 6%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/5f01c3242a6c0365d25f86b496a82528\" tg-width=\"660\" tg-height=\"283\"/></p><p>Lithium prices and stocks spiked on Monday after battery giant Contemporary Amperex Technology Co. Ltd. halted operations at a major mine in China, spurring speculation that Beijing might move to suspend other projects as it tackles overcapacity across the economy.</p><p>U.S.-listed lithium stocks surged in morning trading on Monday.  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