The Cannabis Industry Continues to Thrive And Evolve
For long while marijuana stocks and the cannabis industry as a whole have been waiting for better reform. On a state level, many markets around the US have bloomed into amazing industries. Although the biggest hurdle is creating better regulatory systems mainly has to do with federal reform. For many years the fight to legalize marijuana even on a state level was very tough. Although once California went legal it opened up a path to a new beginning. Right now more than half of the united states have legalized marijuana in some form. From this, there have been various companies to come in and set up shop.
Most of these cannabis companies are publicly traded and when business is good it can have a positive outcome for how the company trades. Still, the larger issue as mentioned above is the laws set in place. Right now many want to see the end of cannabis prohibtion in the USA. Whether it be marijuana banking initially or legalizing cannabis on a federal level. Even rescheduling marijuana similar to alcohol would be a victory as well.
Joe Biden Pardons Simple Cannabis Offences
In recent news, Joe Biden announced he will begin to forgive low-level cannabis crimes. This announcement was made back on Thursday, October 6th. The President came forth with this news 4 weeks before a crucial election that will take place in November. This important election for Congress will determine who retains the controlling majority. When this news surfaced it has a positive impact on how many marijuana stocks reacted.
Yet following this news Biden also urged other Governors around the nation to follow and support his position on forgiving low-level federal cannabis offenses. Let’s say all states agree with President Biden and begin to pardon simple cannabis crimes it would be a big shift in America for the better. Cannabis was once looked at as such a taboo topic that some people to this day still hold on to old stigmas.
The Cannabis Sector Continues To Progress
People looking to get involved in the industry now have the ability to work in dispensaries, packaging, and cultivation facilities. All of these are adding to the drop in unemployment among other things. All legal states are generating revenue in the billion and this is only the beginning.
Marijuana Stocks And Cannabis Industry Politics
As more positive news and progressive ventures take place it good chance investors will see this sentiment enter the market. Historically positive news about a company or something in the industry has led to better trading for marijuana stocks. Moments after Biden made his big announcement marijuana stocks began to climb. Many feel when federal reform becomes law that it could spark a big run.
One that could come with consistency which is a component that has been short-lived for marijuana stocks. Still, the cannabis industry is young and developing every day. As the fight to keep the industry on the right path there is much more to be seen and done that can have adverse effects on the market and investment opportunities that lie ahead.