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Trulieve Stock Soars on Record Q3 Results & Expansion
Trulieve Cannabis Corp (CNSX:TRUL, OTCMKTS:TCNNF) continues to be one of the best U.S. pot stocks. TCNNF stock is up 132% year-over-year, 156% year-to-date, and 25% since the U.S election.
The S&P 500, meanwhile, is up approximately 18% year-over-year and 14% year-to-date. ETFMG Alternative Harvest ETF (NYSE:MJ), the world’s largest cannabis exchange-traded fund (ETF), is down one percent year-over-year and seven percent year-to-date. That said, it’s up a whopping 43% since the November election.
Cannabis stocks have rallied since President-elect Joe Biden won the election. Not only have many Democrats said they want to legalize or decriminalize marijuana, all five states that had cannabis legalization initiatives on their ballots (Arizona, Montana, New Jersey Mississippi, and South Dakota) saw those initiatives pass. Other states, like New York, are expected to follow suit in 2021.
On top of that, an increasingly larger part of the U.S. population, 68%, is in favor of legalizing medical and recreational marijuana. That’s the highest percentage on record.
Furthermore, on December 4, the House passed sweeping legislation that would decriminalize marijuana and erase nonviolent marijuana-related convictions. The…
