$ACB What do you think of the rally? How much further should it go?
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8Hey I'm thinking about investing in cannabis stocks. Right now I'm looking at four different stocks that are American but also based here in Germany, according to my information. With legalization/decriminalization coming soon in Germany, there is a lot of potential in this stock area. Does anyone know anything about this area and can tell me if I am right with these stocks or if there are better options?
My watch list:
$WEED , $TLRY (+2.46%) , $ACB , $CBSX
Cannabis stocks were the best performing healthcare stocks last week, ahead of fresh legalization move
Marijuana players dominated top performers in healthcare this week ahead of a Republican-led attempt for federal legalization of cannabis in the U.S. Meanwhile, less than favorable quarterly earnings hurt decliners.
However, the healthcare stocks ended the week in positive territory with a ~0.6% gain to become the second-best performing sector in the S&P 500, narrowly beating the ~0.3% drop in the broader index.
Among stocks with more than $2B market capitalization and over 100K average daily volume over the past five sessions, Canopy Growth $11L1 surged the most with a 29.5% gain. Its local rivals, Aurora Cannabis $21P1 and Tilray $2HQ (+2.46%) , were not far behind, rising 27.6% and 20.9%, respectively to group among the top five performers.
The resurgence of cannabis players comes at a time the ETFs Global X Cannabis and AdvisorShares Pure US Cannabis remain sharply lower from their February peak and precedes the launch of a Republican bill on Monday to legalize marijuana at the federal level.
The proposed legislation led by Rep. Nancy Mace (R-SC) is said to have a softer regulatory approach compared to the bill introduced by Senate Majority Leader Chuck Schumer (D-N.Y.) in July, Bloomberg reported, citing people who have seen the draft.
Citing the recent underperformance of U.S. MSOs and the latest legislative move favoring the industry, Cantor Fitzgerald analyst Pablo Zuanic noted: “The tide will likely lift all boats.”
I am keeping an eye on $7CI (+3.15%) that is also reporting earnings on Monday before the open.
What do you guys think? Time to invest again in cannabis stocks?
A speculation on respects of political changes.
What do you think of cannabis stock?
Will the price rise due to the 🚦Coaliation?
Today was super exploratory Sunday with talks between GREENS, FDP, SPD and Union. When I look especially at the election programs of the citrus coalition (Greens&FDP), it boils down to the LEGALIZATION of cannabis.
What do you think? Will cannabis be legalized in the next 48 months? And can you participate in a possible legalization in DE with "cannabis stocks" like Aurora or Canopy? $11L1
$21P1
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