Stock Movers: TKO Jumps on UFC Deal, Cannabis Stocks Rise on Trump Speculation, Hershey Falls on Cocoa Prices

TKO Group's UFC Deal Boosts Stock

• 🚀 TKO Group (TKO), owner of UFC and WWE, saw its stock jump 10%, its biggest gain in over a year.
• 🤝 This surge follows Paramount Skydance acquiring exclusive US rights to show UFC events for the next seven years in a $7.7 billion deal.
• 📺 The agreement, which starts next year, will feature 13 marquee events and 30 fight nights on Paramount+ and select events on the CBS network.
• 📈 This new deal represents a 120% increase from UFC's current agreement with ESPN, significantly benefiting TKO.

Cannabis Stocks Rally on Reclassification Hopes

• 🌿 Tilray Brands (TLRY) and other cannabis-linked companies rallied, with Tilray up 41%.
• 🗣️ The boost came after reports that President Trump is considering reclassifying marijuana as a less dangerous drug, potentially moving it from Schedule I to Schedule III.
• 💰 Such a reclassification could lead to increased sales and tax relief for the cannabis industry, though past speculation has not always held.

Hershey and Mondelez Decline Amidst Cocoa Price Surge

• 🍫 Shares of Hershey (HSY) fell 5%, marking five consecutive sessions of decline.
• 📈 Cocoa futures climbed significantly due to dropping inventories and concerns over weaker West African crop forecasts.
• ⚠️ Hershey had previously cited unprecedented cocoa costs as a reason for raising candy prices, and current conditions threaten further price pressure.