4 Marijuana Stocks Set for Another Big Increase: CGC, CRON, TLRY, ACBPosted by On


In December, the Democrat-led House quietly passed the MORE Act, otherwise known as the Marijuana Opportunity Reinvestment and Expungement Act. Marijuana stocks, as measured by ETF Horizons Marijuana Life Sciences Index (TSE:HMMJ), rose just 30%.

Wall Street’s sleepy response might go down as one of the biggest underreactions in history. Few people realize that Americans spend $5.8 billion on marijuana products each month, while sales of tobacco products continue to fall. And with the possibility of legal pot tantalizingly near, these small billion-dollar Canadian companies could become the next hundred billion-dollar firms.

Marijuana stocks have long resembled a real-life version of the French play Waiting for Godot. Many frame the Republican leader, Sen. Mitch McConnell, as the villain, but broader resistance from many conservative politicians have stonewalled efforts to move federal legalization forward. Even state and local legislators have fared no better – the tangle of state laws has left marijuana producers and sellers in a state of pseudo-legality.

Marijuana stocks have suffered the consequences. Barred from doing business at the federal level, companies saw their shares drop up to 95% from their 2018 peaks. And because these companies list on U.S. exchanges, they’re also barred from doing business even in legal marijuana states.

The results of the…

Original Author Link click here to read complete story..

In December, the Democrat-led House quietly passed the MORE Act, otherwise known as the Marijuana Opportunity Reinvestment and Expungement Act. Marijuana stocks, as measured by ETF Horizons Marijuana Life Sciences Index (TSE:HMMJ), rose just 30%.

Wall Street’s sleepy response might go down as one of the biggest underreactions in history. Few people realize that Americans spend $5.8 billion on marijuana products each month, while sales of tobacco products continue to fall. And with the possibility of legal pot tantalizingly near, these small billion-dollar Canadian companies could become the next hundred billion-dollar firms.

Marijuana stocks have long resembled a real-life version of the French play Waiting for Godot. Many frame the Republican leader, Sen. Mitch McConnell, as the villain, but broader resistance from many conservative politicians have stonewalled efforts to move federal legalization forward. Even state and local legislators have fared no better – the tangle of state laws has left marijuana producers and sellers in a state of pseudo-legality.

Marijuana stocks have suffered the consequences. Barred from doing business at the federal level, companies saw their shares drop up to 95% from their 2018 peaks. And because these companies list on U.S. exchanges, they’re also barred from doing business even in legal marijuana states.

The results of the…



Source link

News

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.