Closing Bell: Cannabis Stocks Fall, Birkenstock Drops, Lululemon Surges | Stock Movers

Описание: On this episode of Stock Movers:

Cannabis stocks like Tilray (TLRY) and Canopy (CGC) fell Thursday after President Donald Trump signed an executive order to reschedule marijuana as a lower-class drug. Trump's order reclassifies marijuana as a Schedule III drug from Schedule I, but doesn't permit legalized recreational sales. Other Schedule I substances include highly addictive drugs with no accepted medical use, such as heroin, while Schedule III substances are considered to have lower potential for abuse.

Birkenstock (BIRK) shares drop after the company predicted a slower pace of sales growth in the coming year as its sandals and clogs contend with the impact of a weaker US dollar and tariffs.

Shares of Lululemon (LULU) jumped after activist investor Elliott Investment Management has built a stake of more than $1 billion in Lululemon. Elliott has been working with retail executive Jane Nielsen, who is viewed as a potential CEO candidate, as the company searches for a replacement for current CEO Calvin McDonald.
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Closing Bell: Cannabis Stocks Fall, Birkenstock Drops, Lululemon Surges