Hut. Hut. High! The NFL May Be Changing its Stance on Marijuana, and That's Big News
Chances are that if you look around, you'd struggle to find stocks that, as a group, have performed better over the trailing year than marijuana stocks. A majority of those with market caps in excess of $200 million have shot higher by more than 100%, with some pushing through even larger trailing-year gains. And if we look at the macro trends behind this move, it's not hard to see why investors are so excited.
To begin with, we've witnessed a discernible shift in the way the public thinks about marijuana. In the mid-1990s, before cannabis was first legalized by California for compassionate medicinal use in 1996, just a quarter of those surveyed by Gallup wanted to see pot legal across the country. As of its 2016 survey, this figure had jumped to 60%, which is an all-time high. Similar favorability was shown in an April 2017 CBS News survey where 61% of respondents answered that they wanted to see marijuana legalized nationally. Such strong support suggests lawmakers will have to adapt their views to that of the public's, or risk being voted out of office.
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Source: Fool.com
