Aside from inspiring a whole lotta bad puns I’ve had to weed from my system, cannabis stocks have also piqued my interest greatly. The sector remains young and full of potential, yet more dependent on legislators to guarantee its success than any other I can name. This stems from the fact that marijuana use, while fully legal in 15 states and partially legal another 33, is still against the law on the federal level. (It is also illegal in Idaho though potatoes, a principal ingredient in vodka, are not. Just sayin’.)
Until Congress approves decriminalization and the president signs it into law, cannabis stocks may have something of a cloud hanging over them, and not of the Cheech and Chong kind. The good news is that under a new administration this could be one step closer to reality, as Vice President-elect Kamala Harris was the Senate sponsor of the Marijuana Opportunity Reinvestment and Expungement (MORE) Act. The House version came within inches of a vote on the week of Sept. 21.
Regardless of what happens in Washington D.C., pot stocks are hot and cannabis is big business. It’s estimated that the sector could generate up to $130 billion annually into the U.S. economy by 2024. It’s safe to assume that before then, more states will approve recreational use, just as New Jersey, Arizona, South Dakota and Montana did on Election Day 2020. Remarkably, marijuana was…
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Aside from inspiring a whole lotta bad puns I’ve had to weed from my system, cannabis stocks have also piqued my interest greatly. The sector remains young and full of potential, yet more dependent on legislators to guarantee its success than any other I can name. This stems from the fact that marijuana use, while fully legal in 15 states and partially legal another 33, is still against the law on the federal level. (It is also illegal in Idaho though potatoes, a principal ingredient in vodka, are not. Just sayin’.)
Until Congress approves decriminalization and the president signs it into law, cannabis stocks may have something of a cloud hanging over them, and not of the Cheech and Chong kind. The good news is that under a new administration this could be one step closer to reality, as Vice President-elect Kamala Harris was the Senate sponsor of the Marijuana Opportunity Reinvestment and Expungement (MORE) Act. The House version came within inches of a vote on the week of Sept. 21.
Regardless of what happens in Washington D.C., pot stocks are hot and cannabis is big business. It’s estimated that the sector could generate up to $130 billion annually into the U.S. economy by 2024. It’s safe to assume that before then, more states will approve recreational use, just as New Jersey, Arizona, South Dakota and Montana did on Election Day 2020. Remarkably, marijuana was…
