Marijuana Stocks Surge On Legalization Hopes, Retail Rally; Are Any Good Buys Now?| Investor’s Business DailyPosted by On


Marijuana stocks have moved higher as hopes increase for wider U.S. legalization. Does that make marijuana stocks good buys now?




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With President Joe Biden in the White House, a Democrat-controlled House and a 50-50 split in the Senate, marijuana stocks have begun to recover some of the losses they endured over the past two years, when losses and cash concerns turned investors away.

And in February, Senate Majority Leader Charles Schumer and Sens. Cory Booker and Ron Wyden said they would make cannabis reform a priority this year. Industry executives said that Jazz Pharmaceuticals‘ (JAZZ) planned acquisition of GW Pharmaceuticals (GWPH), which makes drugs derived from cannabis, added to the mainstream acceptance. The House voted to pass the MORE Act in December, and on Election Day, five states voted to legalize cannabis in some form.

Cannabis industry executives have also predicted a domino effect — with neighboring states feeling pressure to legalize in order to prevent a flight of tax revenue to newly legal states. And they say having more legal states increases the likelihood the government will take action to roll back restrictions on a national level.

Meanwhile, some marijuana stocks like Sundial Growers (SNDL) have gotten swept up in the Reddit-driven surge that took GameStop (GME) for a ride this year.

However, the marijuana industry’s finances are, in…

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Marijuana stocks have moved higher as hopes increase for wider U.S. legalization. Does that make marijuana stocks good buys now?




X



With President Joe Biden in the White House, a Democrat-controlled House and a 50-50 split in the Senate, marijuana stocks have begun to recover some of the losses they endured over the past two years, when losses and cash concerns turned investors away.

And in February, Senate Majority Leader Charles Schumer and Sens. Cory Booker and Ron Wyden said they would make cannabis reform a priority this year. Industry executives said that Jazz Pharmaceuticals‘ (JAZZ) planned acquisition of GW Pharmaceuticals (GWPH), which makes drugs derived from cannabis, added to the mainstream acceptance. The House voted to pass the MORE Act in December, and on Election Day, five states voted to legalize cannabis in some form.

Cannabis industry executives have also predicted a domino effect — with neighboring states feeling pressure to legalize in order to prevent a flight of tax revenue to newly legal states. And they say having more legal states increases the likelihood the government will take action to roll back restrictions on a national level.

Meanwhile, some marijuana stocks like Sundial Growers (SNDL) have gotten swept up in the Reddit-driven surge that took GameStop (GME) for a ride this year.

However, the marijuana industry’s finances are, in…



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