Marijuana ETFs rip higher on ‘Blue Wave’ hopes

Marijuana-linked exchange-traded funds surged higher Wednesday as investors bet stronger Democratic control of Washington would bolster legalization efforts. Separately, New York Gov. Andrew Cuomo called for legalizing the drug for recreational use. The ETFMG Alternative Harvest ETF surged 10.5%, AdvisorShares Pure US Cannabis ETF was up 9.4%, and AdvisorShares Pure Cannabis ETF , a more globally-focused fund, gained 9.1%.

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