Why Cannabis Stocks Could Take Off Soon
There's nothing that can light a fire under marijuana stocks quite like hype around legalization or any kind of reform in the sector. When the Democrats won the run-off Senate elections in Georgia in early January, giving them control of both the House and Senate, shares of the Horizons Marijuana Life Sciences ETF jumped 8% the following day (the S&P 500 was up around 0.6%).
At the time, there was excitement only for the possibility that reform might happen as a result of the Senate results. If there are actual changes, the bullishness could reach a whole other level. And while marijuana legalization may not happen anytime soon, the passage of the Secure and Fair Enforcement (SAFE) Banking Act could be on the horizon.
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Source Fool.com
