They will have a sustained rally when POTUS signs the legalization bill into law. Nothing else can happen to these stocks in that scenario. Look at it this way. You think the pot stocks will go DOWN after pot is federally-legal? Does that make any sense? Opening up the banking industry to this new sector flush with cash is going to cause a ton of new companies to prop up, and players like CGC are positioned to profit huge.
People with a clinical addiction and escape desire to seek ever more evolving ways and substances to not confront their childhood wounds, fucked up choices in life of course want to see an upside in all this garbage.there is no medical upside to pot. But of course you can nowadays find pseudoscience based research and reports to support ANY position. The only political upside to legalize it fully is increased taxes and to keep the citizenry high so that nobody revolts and marches on the street. The more fucked up and wasted people are the less inclined they are to overthrow the elitist government structures and question the lies that we are fed on a daily basis.
Pot has been legal in Canada now for a while. It's basically been a non-event. People that were buying and using before continued buying and using, they just didn't have to hide it anymore. Of course there have been new people buying and trying but it really hasn't been that noticeable. As usual what is expected to happen in the market and what actually happens are polar opposites. The pot stocks that were supposed to take off once legalization happened continued to drop in value. The upside had been priced in and the legalization was not the panacea that everyone envisioned.
You call this a non event? I live in Canada and pot stupified vast masses of society. Large segments of town don't go out anymore, don't socialize much anymore, most of those folks sit on their sofa and get high for no value added or beneficial to their own life, purpose. You call that a non event? It's the same as if you let get everyone drunk every single night. Great society we are breeding and educating. Sitting on the couch and do nothing. Aside that, I see tons of cars in parking lots or with running motor along the street and you can clearly smell that the drivers and other occupants smoke weed in the car. That's on public roads not any private property. You honestly think that is beneficial to let people drive around town high? Would you change your stance if your daughter was killed by a high driver at an intersection? Also, your argument that lots of people used before it was legalized is nonsense. Why then not letting people legally murder each other or punch each other or legalize coke and heroin and meth because many already use it and do it illegally.
On that one issue there, about people not socializing...How much of that is the momentum of the whole stay-at-home stuff from the pandemic, that is still carrying though this year?
Hard to say but it's probably not hard to come to the conclusion that pot does not quite energize people to pursue more purposeful endeavors in life. We are creating a society of lazy fuckups while Asia is pushing ahead and runs circles around our dreamy and aimless populace.
I don't believe that legalization of pot is going to cause a new Purple Haze in the US. This ain't the 1960s, man.