Cannabis stocks have been soaring recently the back of the U.S. election and a largely positive third-quarter earnings season. Not only do investors believe an incoming Biden administration could potentially roll back some marijuana prohibition provisions, but U.S. cannabis stocks have also reported some excellent sales growth in their third-quarter earnings.
Unfortunately, investors on the popular Robinhood platform can’t participate in a good part of the industry — in fact, the best part. Yet here’s how investors on the platform can still gain access to this potential boom.
Robinhood investors can’t directly invest in U.S. cannabis MSOs. Image source: Getty Images.
Robinhood doesn’t offer U.S.-based multistate operators
Currently, Robinhood does not offer trading on Canadian exchanges, or most stocks that trade over the counter in the United States. Over-the-counter stocks are generally less liquid than stocks that trade on major U.S. exchanges and thus bear some higher risks, which is why certain platforms don’t allow you to trade them.
In an ironic and somewhat absurd twist befitting the U.S. government’s continued prohibition of cannabis, U.S.-based cannabis operators can trade on…
