Three months ago, we identified marijuana stocks as under a Biden presidency, noting that:
“[r]elative to some of the more liberal Democratic candidates, Biden is seemingly lukewarm toward recreational marijuana, but the prospects of full legalization are nonetheless better under Biden than Trump, especially if the House of Representatives and/or Senate is also under Democratic control. In that case, stocks like Canopy Growth (NYSE:), GW Pharmaceuticals (OTC:), Curaleaf (OTC:), Cronos Group (NASDAQ:), and Aurora Cannabis (NYSE:) could catch a bid…”
While not necessarily unique or profound, this perspective has aged well. At one point on Monday, the “Alternative Harvest” ETF (NYSE:) had surged 33% in less than a week from its pre-election price, and the industry bellwether is still trading up by about 13% from its November 3rd close:
From a technical perspective, MJ has seen its 21-day EMA cross above its 50-day EMA, signaling a…
