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The Trump Effect and Biotech Stocks: What Investors Need to Know

Submitted by Marijuana News on Thu, 01/12/2017 - 10:12

The stock market reacted in a volatile manner to President-elect Donald Trump’s first press conference since the election.

Cannabis stocks were not immune from this volatility and we are closely monitoring biotech stocks levered to the cannabis industry as yesterday’s trading activity was not like anything we have seen before.

An Unprecedented Reaction

The market has never seen one person have such an impact on global market activity and want to briefly highlight how the President-elect’s comments impacted the markets, specifically that of the biotech sector.

The iShares Nasdaq Biotechnology ETF (IBB) serves as a benchmark for investors and tracks the investment results of the Nasdaq Biotechnology Index, which contains securities of listed companies classified as either a biotechnology or pharmaceutical company. The IBB was trading higher early on in the trading day but plunged on Trump’s comments and ended the day down 3%.

The Dow Jones Industrial Average...

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