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Here’s What Going on in the Markets as Ballots Continue to Be Counted in the U.S.

Markets continue to move as ballots continue to be counted in the election. Naturally, there are some big movers. Letโ€™s take a closer look:

๐Ÿ As of the market close today, Biden has picked up over 90% of the electoral votes needed to win the presidency. His current standing is sending shares of marijuana companies higher and higher. Shares of the cannabis ETF $MJ are up nearly 11% today. Some of its core components are also ripping, such as Aurora Cannabis and Tilray. $ACB is up nearly 42% and $TLRY is up 30%.

๐Ÿˆ Weed isnโ€™t the only industry getting love on markets. Sports betting is now legal in 25 states, and on the news, shares of DraftKings and Penn National Gaming took off. $DKNG jumped 9% and $PENN jumped nearly 10% on the news.

๐Ÿ“ Finally, digital solutions for work also had a hay-day on markets today. Software connecting companies with employees and freelancers has taken a more pronounced role in business as a result of COVID-19. Our biggest Ripper of the day, Upwork, made huge strides in the last two quarters because of its core freelance-centric business. Shares of Workiva, a cloud-based compliance company for companies, also saw a big bump today. $UPWK is up nearly 44% and $WK is up 20% today.

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See you all back here Sunday! Maybe weโ€™ll know who our president is by then ๐Ÿ‘€

Noah Weidner

Noah Weidner is a restless self-starter with a vehement interest in all things that make the world go around: culture, politics, economics and all the people in between. He writes the Bullish Rippers series and covers other interesting trends and happenings at Bullish.

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