With U.S. elections just weeks away, the idea of a Joe Biden Administration is sending cannabis-related stocks higher.
While there is no guarantee of who may win, the anticipation is what’s driving investment dollars here.
All after Democratic VP nominee Kamala Harris said cannabis would be decriminalized in the U.S. under a Biden Administration.
She also noted the two would expunge the criminal records of anyone convicted of cannabis-related offenses in the past. Plus, there could be a good deal of demand for cannabis, too. After all, according to a Pew Research Center survey, 67% of us support cannabis legalization. That’s up from 62% year over year.
And, according to a Gallup survey, 66% of Americans are in favor of legalization. That’s up from just 60% in 2016. In addition, over the next decade, spending on worldwide cannabis could reach $57 billion by 2027, according to Arcview Market Research and BDS Analytics.