It appears that marijuana shares are lastly beginning to discover some traction. The ETFMG Alternative Harvest ETF (NYSEARCA:MJ) has risen 10% in latest weeks and located technical assist. And a few of the sector’s particular person shares, corresponding to Trulieve Cannabis (OTCMKTS:TCNNF), are close to their document highs. Canopy Growth (NYSE:CGC) inventory is in the center of the pack. Its shares have risen considerably in latest weeks, however they’re nonetheless effectively under their 52-week highs.
That is sensible. There’s actually cause to be optimistic about marijuana shares. Market circumstances are slowly bettering in Canada, the place hashish is totally authorized. Meanwhile, pleasure is constructing about hashish’ outlook in the United States.
The Election Could Be a Positive Catalyst
With the presidential election developing on Nov. 3, there’s a good probability that the U.S. federal authorities will transfer in the direction of the legalization of hashish. While some particular person states have…