Keep an eye on AFC Gamma (AFCG), a cannabis real estate investment trust (REIT) that carries a yield of 15.87%. President Biden just pardoned federal cannabis-related crimes, and also called on state governors to issue cannabis-related pardons at the state level.
“Just as no one should be in a federal prison solely due to the use or possession of marijuana, no one should be in a local jail or state prison for that reason, either,” said the President, as quoted by USA Today.
There’s also speculation of further efforts to potentially legalize cannabis as we near the 2024 presidential election, which could fuel even more upside for cannabis stocks.
Plus, with potential interest rate cuts in the new year, REITS like AFCG could see higher highs. There’s also hope the Drug Enforcement Administration (DEA) will complete its review into cannabis scheduling following a U.S. Department of Health and Human Services (HHS) recommendation to move it to Schedule III.
While we wait for more news on potential legalization, why not collect yield along the way?