Cannabis stocks could see higher highs.

For one, the Pew Research Center just found that about nine in 10 Americans (88%) said that cannabis should be legal for medical or recreational use. 

Two, President Biden mentioned cannabis in his State of the Union. according to The New York Times, he said he was “directing my cabinet to review the federal classification of marijuana, and expunging thousands of convictions for the mere possession because no one should be jailed for simply using.”

Three, we expect for one of the candidates to advocate for the removal of cannabis from the controlled substance list, and push for federal legalization.  Helping, Florida’s Supreme Court is allowing an initiative that would legalize recreational cannabis use on the state’s ballot in November. Plus, Germany just legalized its recreational use, as well.

It would help explain why related stocks like Canopy Growth (CGC) just exploded from a low of about $3 to $8.83. Even Aurora Cannabis (ACB) jumped from about $3 to $6.71. We’re even seeing action in Innovative Industrial Partners (IIPR), which yields 7.31% at the moment.