Chuck Schumer leads the charge to finally legalize weed! And cannabis stocks are rallying behind him

Chuck Schumer leads the charge to finally legalize weed! And cannabis stocks are rallying behind him

If you're looking to invest in cannabis, now's probably the time

VicesFebruary 03, 2021 By Will Brendza

With three seperate cannabis bills — the MORE Act, the SAFE Act and the STATES Act — all passing through the Senate and the House (and with a Democratic president now in office) everyone has had high hopes for the future of cannabis in America.

Could this be it? Could Federal legalization finally, possibly, actually be here? Is the US going to join Canada and Mexico to create the world’s first legal canna-continent?!

It seems possible. Particularly in the wake of Chuck Schumer’s recent announcement that he and three other Democratic senators will be championing cannabis in the current Congress. They’re taking the hemp reigns, lighting the RAW-rolled flower-torch and carrying it into the capitol, as they make cannabis-reform a key priority of theirs.

Which has caused nearly every cannabis stock, from THCX to CURA, CHRON and WEED to rally behind them in hopes that a legalized market might be just around the corner.

“The War on Drugs has been a war on people—particularly people of color. Ending the federal marijuana prohibition is necessary to right the wrongs of this failed war and end decades of harm inflicted on communities of color across the country. But that alone is not enough,” Schumer and the three other senators wrote in a joint statement. “As states continue to legalize marijuana, we must also enact measures that will lift up people who were unfairly targeted in the War on Drugs.”

While Joe Biden has previously been against cannabis (and, let’s not forget, he authored the infamous Crime Bill which is responsible for millions of non-violent, largely black and minority drug offenders being locked behind bars) there seems to be genuine optimism from both Capitol Hill and Wall Street right now. People are confident that if any one of these cannabis reform bills makes it to Biden’s desk, he’ll sign it.

And that would send these stocks soaring to new heights. They’re already stirring, climbing in anticipation of legalization — if it actually happens, the market value of any one of those stocks is going to explode.

Which is to say, if you’re looking to get skin in the cannabis game, now’s probably the time to do it.