Cannabis stocks could see higher highs.
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. About 57% said cannabis should be legal for both medical and recreational use. About 32% said it should just be legal for medical use, while about 11% said cannabis should not be legal at all.
Two, there’s speculation we could hear more about legalization as we near the U.S. elections. After all, with millions of Americans hoping for legalization, it could provide candidates with further support if they simply mention the possibility of legalization.
Three, Germany just legalized the possession of small amounts of cannabis.
In addition, as noted by Marijuana Moment, “Colorado’s governor says that while federal marijuana legalization is the ultimate goal, incremental rescheduling and cannabis banking reform are important “dominoes” that could help pave the way. And he said his state continues to have ‘very strong conversations with the White House’ about the need for policy change.”
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With that being said, investors should keep an eye on stocks like Canopy Growth (CGC), Aurora Cannabis (ACB), and ETFs such as: ETF: Advisor Shares Pure US Cannabis ETF (MSOS) |
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