Cannabis stocks could see higher highs with midterms.
For one, Arkansas, Maryland, Missouri, North Dakota, and South Dakota are voting on legalization in the midterms.
Two, the Biden Administration has asked for a reevaluation of cannabis’ legal classification.
In fact, according to FiveThirtyEight’s Lester Black: Biden “is now asking his own administration to start the process of making the drug’s legal classification match its reality. The reevaluation is more than just an empty gesture. Experts like John Hudak, a senior fellow at the Brookings Institution, said there’s a very good chance of Biden’s directive leading to actual reform — not decades from now, but by the end of his current term in office.”
And three, according to Tilray CEO Irwin Simon, as quoted by Yahoo Finance: “The US is $100 billion opportunity in cannabis. If you look at cannabis today in the US, 93% of Americans want medical cannabis legalized and about 63%, 65% want adult use. Today, it’s legal in about 33 states, and plus DC. So, it’s out there that everybody– well, not everybody, but a majority of people want cannabis legally.”
Should we see further progress in more U.S. states, from Congress, and from The White House, cannabis could be one of the best investments of the New Year.