Cannabis stocks are rising on hopes for federal legalization.
All after U.S. Senators Cory Booker, D-N.J., Ron Wyden, D-Ore., and Chuck Schumer, D-N.Y. said, “We are committed to working together to put forward and advance comprehensive cannabis reform legislation that will not only turn the page on this sad chapter in American history, but also undo the devastating consequences of these discriminatory policies. The Senate will make consideration of these reforms a priority.”
In addition, according to Politico, “Fifteen states have passed full marijuana legalization. Another 21 states have legalized medical marijuana. Virginia, New York, New Mexico and Connecticut are among the states that could back recreational sales this year. Legalization has spread across the country even though the federal government continues to classify marijuana as a highly addictive, illegal drug with no medical value.”
With those powerful catalysts, keep an eye on Canopy Growth (CGC), Cronos Group (CRON), Organigram Holdings (OGI), Aurora Cannabis (ACB), and Aphria Inc. (APHA).