Worried About Inflation? Try this Cannabis Stock

Commercial Building - REIT

Here’s the good news – the COVID economic recovery is booming. First-quarter U.S. gross domestic product (GDP) growth came in at 6.4%, putting the U.S. economy on pace for its best year of growth since 1984.

The bad news? Inflation is soaring. In fact, it just hit a 13-year high. Here are some more details from Reuters.

In the 12 months through June, the CPI jumped 5.4%. That was the largest gain since August 2008 and followed a 5.0% increase in May. Excluding the volatile food and energy components, the CPI accelerated 0.9% after increasing 0.7% in May. The so-called core CPI surged 4.5% on a year-on-year basis, the largest rise since November 1991, after advancing 3.8% in May.

Not only is higher inflation a threat to consumers, but it’s also a threat to the stock market. Continue reading “Worried About Inflation? Try this Cannabis Stock”

Forget Federal Legalization – The SAFE Act is as Good and Can Still Pass

Man Putting His Vote in the Ballot Box

House Majority Leader Chuck Schumer (D) just made good on one of the most ambitious goals of his career.

On Wednesday, Schumer released draft legislation of The Cannabis Administration and Opportunity Act, a cannabis bill that would legalize cannabis at the federal level.

On the surface, this sounds like a watershed moment for the U.S. cannabis industry. Federal legalization would unleash the true potential of the U.S. cannabis industry. It would generate billions in new economic activity. It would also create thousands of new jobs and generate billions in taxes for state and local governments. Continue reading “Forget Federal Legalization – The SAFE Act is as Good and Can Still Pass”

Up 568% in 12 Months and More to Come?

When a stock is up 568% in 12 months that usually a good time to lock in some gains. However, the cannabis sector just created an exception.

GrowGeneration Corp. (NASDAQ: GRWG) is the largest retailer of specialty hydroponics and cultivation materials in the U.S. GrowGen currently own 55 stores, which include 20 locations in California, eight locations in Colorado, seven locations in Michigan, five locations in Maine and¬†Oklahoma, two locations in Nevada, Washington,¬†Oregon, Arizona, Rhode Island, Florida, and Massachusetts. GrowGen also operates an online superstore for cultivators. Continue reading “Up 568% in 12 Months and More to Come?”

Cannabis Stocks Gain 6% in First Half of 2021

Cannabis stocks eked out a small gain in the first half of 2021. But the path to that small gain was quite bumpy.

The sector was on fire early in the year after the Democrats took the White House and both chambers of Congress. At one point in early February, the Advisor Shares US Cannabis ETF (NYSE: MSOS) was up more than 50%.

However, after hitting the new 52-week high, cannabis stocks fell into a bear market. After falling for most of the last three months, the Advisor Shares US Cannabis ETF closed the first half of 2021 with a 6% gain. Continue reading “Cannabis Stocks Gain 6% in First Half of 2021”