As we get closer to November, cannabis stocks could see higher highs.
We already know that 88% of Americans want to see legalization, which the current candidates should use to their advantage for votes. We know that Germany just legalized its use, which could set off a domino effect across Europe. We know cannabis will be rescheduled as a Schedule III drug at some point.
Other than that, it’s Florida’s upcoming vote on legalization that could really get the ball rolling for some of the top pot stocks. Helping, a new poll from Florida Politics shows that about 64% of Florida voters will vote for legalization. “To pass, the constitutional amendment requires at least 60 percent of the votes cast in November’s election,” says MarijuanaMoment.net.
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The potential legalization in Florida could boost stocks such as: Curaleaf Holdings (SYM: CURLF) is one of the top stocks that could benefit from Florida’s vote for legalization. Helping, Alliance Global Partners just raised its price target to $12. In addition, according to CEO Matt Darin, “Our unique exposure to the most significant catalysts on the horizon – continued expansion of the NY market, expansion of Pillar 1 in Germany, and adult use in Ohio, Florida and Pennsylvania sets us up for robust growth in 2025 and beyond.” |
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Company: Trulieve Cannabis (SYM: TCNNF) Alliance Global Partners noted that TCNNF is best positioned for potential legalization in Florida. Needham also raised their price target on TCNNF with a buy rating. Analysts at Canaccord also raised their price target to $38, with a buy rating. |
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Company: Verano Holdings (SYM: VRNOF) We can also look at Verano Holdings (SYM: VRNOF), which should also benefit from Florida legalization. For one, the company has 77 dispensaries in Florida. It also just authorized a $50 million share buyback plan. |
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