Cannabis stocks could see higher highs this week.
For one, there’s speculation Joe Biden could legalize it at the federal level.
After all, Biden has already said he would “decriminalize the use of cannabis and automatically expunge all prior cannabis use convictions,” as quoted by the Boston Globe.
Two, this week, the House will vote on ending a federal ban on medical and recreational cannabis, as announced by House Majority Leader Steny Hoyer. Lawmakers are expected to vote on this by Thursday or Friday, and could send related stocks to higher highs.
As we near these catalysts, keep an eye on related stocks like:
- Canopy Growth (CGC),
- Aurora Cannabis (ACB),
- Aphria Inc. (APHA),
- ETFMG Alternative Harvest ETF (MJ),
- Cronos Group (CRON)