Just a few weeks ago, we noted:
“Cannabis stocks have been explosive. All thanks to legalization in Germany, the addition of a cannabis vote in Florida, growing approval ratings in polls, and speculation it could be favorably mentioned in the election. According to the Pew Research Center, about nine in 10 Americans (88%) said that cannabis should be legal for medical or recreational use.”
With that, we highlighted related stocks, such as Canopy Growth (SYM: CGC), Aurora Cannabis (SYM: ACB), and ETFs such as the Advisor Shares Pure US Cannabis ETF (SYM: MSOS) and ETFMG Alternative Harvest ETF (SYM: MJ). Then, we got news that the US DEA will reschedule cannabis as a less dangerous drug.
In fact, according to the Associated Press, it now “clears the last significant regulatory hurdle before the agency’s biggest policy change in more than 50 years can take effect.”
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They added, “Today, the Attorney General circulated a proposal to reclassify marijuana from Schedule I to Schedule III,” Justice Department director of public affairs Xochitl Hinojosa said in a statement. The DEA is a component of the Department of Justice. “Once published by the Federal Register, it will initiate a formal rulemaking process as prescribed by Congress in the Controlled Substances Act.” With that news, Canopy Growth ran from about $8.20 to a high of $14.92. Now back to $9.20, we believe it could push even higher heading into the elections. Aurora Cannabis ran from $6.20 to $9.35. It’s now back to $6.62. |
Stansberry Research
What President Biden’s new law means for investors
President Biden just signed a new law approving billions of dollars for one small but growing industry, and investors like Bill Gates and Peter Thiel are all over it.
This expert just went public with all the details, including which stocks to jump on immediately.
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ETFs: Advisor Shares Pure US Cannabis ETF (SYM: MSOS), ETFMG Alternative Harvest ETF (SYM: MJ) The MSOS ETF ran from about $8.50 to a high of $11.37. It’s now back to $8.25 and could push higher, as well. With the MJ ETF, it ran from $3.80 to a high of $4.80. It’s now back to $3.85 and could also race higher as we near the elections. With a good deal of catalysts ahead – like the elections – each could gain more momentum. |
InvestorPlace
Biden Nomination CANCELED?
They’re all missing this.
The Hill just published that Joe Biden has received enough delegates to…
“Clinch the Democratic presidential nomination and all but guaranteeing he will face off against former President Trump again in November.”
Why is he all BUT guaranteed the Democratic nomination, in their words?
Not only do I see something very different from Trump vs. Biden happening this November…
But I also see a very… VERY… different America in 2025.
Click here now to watch Louis Navellier reveal his urgent election forecast.
