Cannabis stocks could see higher highs.
All after Amazon.com threw its support behind federal legalization efforts.
According to Amazon’s CEO, Worldwide Consumer, Dave Clark in a company blog:
“Our public policy team will be actively supporting The Marijuana Opportunity Reinvestment and Expungement Act of 2021 (MORE Act)—federal legislation that would legalize marijuana at the federal level, expunge criminal records, and invest in impacted communities. We hope that other employers will join us, and that policymakers will act swiftly to pass this law.”
In addition, more states are just starting to legalize its use.
Some in Congress are even pushing for legalization at the federal level.
In fact, we could soon see a federal legalization bill from Chuck Schumer. According to Marijuana Moment, “Schumer for months has signaled that he and Democratic colleagues Sens. Cory Booker (D-NJ) and Ron Wyden (D-OR) intend to bring legislation this session to legalize cannabis nationwide, though the group has not yet revealed their proposal.”
Meanwhile, Americans are overwhelmingly supportive of its use, with 91% of U.S. adults saying cannabis should be legal, according to the Pew Research Center. A Gallup poll even shows support for legalization is up to a new high of 68%.
From here, it may only be a matter of time before we see federal legalization, and sky-high cannabis stocks. In, fact keep an eye on Canopy Growth (CGC), Tilray (TLRY), Aurora Cannabis (ACB), Curaleaf (CURLF), and ETFs such as ETFMG Alternative Harvest (MJ).
The post Amazon May Have Just Sparked the Next Cannabis Boom appeared first on Morningology.
