With patience, cannabis stocks could see higher highs. Sure, we’re still waiting on federal legalization, and possible rescheduling, but as we wait, more states are moving forward. That, and more than 91% of Americans want to see legalization.
Abroad, Germany is expected to introduce a bill that could greenlight consumption in one of Europe’s biggest economies. In fact, “If approved by parliament, the bill could be implemented in phases between now and mid-2024. It would make Germany the world’s largest regulated national cannabis market and the first country in the EU to permit its commercial sale — with potentially sweeping implications for the bloc,” added CNBC.
Also, according to Marijuana Moment, the Congressional Progressive Caucus (CPC) wants President Biden to direct federal agencies to “expedite” rescheduling and reinstate protections of state cannabis programs from federal interference.
In addition, we have to consider that more Americans support legalization.
According to Gallup, “More than twice as many Americans think that marijuana has a positive impact on its consumers and society at large than say the same about alcohol, according to a new Gallup poll,” reported Marijuana Moment, “And perhaps more revealing, people who have actually used cannabis are far more likely to tout its positive impacts compared to just a small fraction of alcohol drinkers who feel the same way about their drug of choice.”
