November 7, 2018 / 8:23 PM / 5 months ago

BUZZ-Prisons, pot stocks react as Sessions out as attorney general

** Shares of prison stocks Geo Group and CoreCivic dipped, while pot stocks took another leg up in Weds afternoon trading following news that Jeff Sessions is out as attorney general

** GEO and CXW both fell modestly in volume spikes on the news; GEO last down 2.3 pct, CXW off 0.3 pct

** Some investors have said that the removal of Sessions as attorney general could be a risk for prison stocks due to uncertainty about whether his successor could have more moderate policies on immigration

** GEO also reported Q3 earnings earlier on Wednesday

** Meanwhile, Tilray adds sharply to earlier gains and now up ~30 pct. Cronos Group , Aurora Cannabis and Canopy Growth all up 5-7 pct

** These stocks had already moved higher on Weds after some U.S. states gave greenlight to marijuana use

** Sessions is known for his staunch opposition to legalization of marijuana

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