Cannabis stocks are rising to new heights as the smoke begins to clear around the 2020 election.
Shares in big weed companies soared on Thursday as investors began to price in a victory for pot-friendly presidential hopeful Joe Biden, even as five US states — including the conservative red state Mississippi — approved measures to legalize the stuff.
“The one thing that Americans agreed to on Tuesday was that they want to see cannabis legalization and reform,” said Adam Goers, VP of Corporate Affairs for Columbia Care, a New York City-based cannabis company that operates dispensaries in 18 states. “This will be the last election that Republicans won’t endorse cannabis.”
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