Sector Jumps on Republican-Led Cannabis Bill

Cannabis stocks just had one of their best weeks of the year after getting some much-needed good news on federal legalization.

On Thursday, Marijuana Moment reported that representative Nancy Mace (R-SC) is circulating a bill called the States Reform Act that would legalize and tax recreational cannabis at the federal level. Continue reading “Sector Jumps on Republican-Led Cannabis Bill”

Cannabis Stocks Were Crushed in 2021, But Here’s What’s Next

2021 has turned out to be an unexpectedly challenging year for cannabis stocks. The sector just logged its ninth losing month in a row.

Today I am going to explain why cannabis stocks have struggled and what to expect moving forward. Continue reading “Cannabis Stocks Were Crushed in 2021, But Here’s What’s Next”

Cannabis Stocks Spiking on Hopes for Banking Bill

The U.S. cannabis industry is on the verge of its biggest win of 2021.

It looks like some major cannabis legislation has a strong possibility of being passed in the next few weeks – and if it does pass, it could set the stage for a monster cannabis stock rally into the end of the year.

The bill in question is the Secure and Fair Enforcement (SAFE) Act, commonly referred to as the Safe Act. The Safe Act is one of the most popular cannabis bills and it has widespread support from both Democrats and Republicans. Continue reading “Cannabis Stocks Spiking on Hopes for Banking Bill”

California Cannabis Stock on Sale by 45%

After getting off to a slow start, the California legal cannabis industry is thriving.

The latest evidence?

California just revealed that it collected $817 million in legal cannabis taxes in fiscal 2020-2021, up an eye-popping 55% from the previous year. Tax revenue for the fourth quarter totaled $212 million, topping the 3-month average since legalization rolled out. Continue reading “California Cannabis Stock on Sale by 45%”

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”

2 Stocks to Play Amazon’s New Cannabis Goal

The U.S. cannabis industry has a powerful new ally – one of the largest and most influential tech companies ever. Not only does this tech goliath support federal cannabis legalization, but it will also invest millions lobbying Congress to make it happen.

Today I’ll explain how Amazon’s announcement could impact the cannabis industry and how to potentially profit with two cannabis stocks that just reported impressive first-quarter sales growth. Continue reading “2 Stocks to Play Amazon’s New Cannabis Goal”

Iowa Senator Announces Plans to Introduce Cannabis Legalization Bill

State Sen. Joe Bolkcom of Iowa announced on Monday that he plans to introduce a bill that would legalize the recreational use of cannabis for adults. Under his proposal, marijuana would be regulated like alcohol by the state government.

“It is time for Iowa to end marijuana prohibition,” Bolkcom said at a news conference on Monday morning. Continue reading “Iowa Senator Announces Plans to Introduce Cannabis Legalization Bill”

High-Level Coalition Launches Campaign Supporting Legalization in Minnesota

As a congressman, Tim Walz pushed the Department of Veterans Affairs to study medical cannabis for military veterans. And now, as the newly elected Governor of Minnesota, Walz wants to make it the next U.S. state to legalize marijuana. In fact, Walz’s tax-revenue-generating, economic-opportunity-creating, racial-disparity-reducing stance on legalization led Forbes to predict that Minnesota would indeed be the next legal-weed state. Continue reading “High-Level Coalition Launches Campaign Supporting Legalization in Minnesota”

Police Officers in Ottawa Will Be Permitted to Consume Cannabis Off-Duty

Police officers in Ottawa, Ontario will be allowed to consume cannabis while off-duty once recreational marijuana is legalized later this month, according to a report from the CBC. The Ottawa Police Services Board adopted a new fit-for-service policy to govern cannabis-use by officers at its meeting on Monday.

Deputy Chief Steve Bell said that the policy is similar to the guidelines already in place for the use of other substances that may affect work performance. Continue reading “Police Officers in Ottawa Will Be Permitted to Consume Cannabis Off-Duty”