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Cannabis Watch: Cannabis stocks surge as U.S. midterm elections, Jeff Sessions resignation bolster hopes for a green wave

Shares of cannabis companies traded broadly higher Wednesday, as U.S. midterm elections are likely to usher in a green wave, with Michigan voting to legalize recreational pot and other states supporting medical marijuana likely just the beginning.

The sector got a further boost after long-time cannabis opponent Attorney General Jeff Sessions resigned “at the request” of President Trump.

The ETFMG Alternative Harvest exchange-traded fund MJ, +7.06% shot up 6.2% in late-afternoon, with 33 of 37 components trading higher, putting it on track for a seventh straight gain. The sector tracker has now run up 25% during its win streak.

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