I have talked about cannabis stocks to buy in several instances in the last few quarters. However, the timing for exposure couldn’t be better than now for several reasons.
A recent survey by Pew Research indicates that “an overwhelming share of U.S. adults (88%) say marijuana should be legal for medical or recreational use.”
The implication of this survey is significant because U.S. citizens will vote to choose the next President later this year. Presidential candidates will likely talk about the potential legalization of cannabis at the federal level.
Even before that, there is a high possibility that cannabis will be moved from its current classification as a Schedule I drug to a Schedule III drug. If this happens, it would imply loosening Federal Drug Enforcement Agency restrictions. The possible reclassification will likely pave the way for potential federal-level legalization after the Presidential elections.
From the perspective of cannabis stocks, the possibility of a decline in regulatory headwinds would be big news. I expect multibagger returns at the blink of an eye if regulatory outcomes are positive in the next 12 months. Let’s, therefore, talk about three cannabis stocks to buy.
Cronos Group (CRON) Source: Shutterstock
Cronos Group (NASDAQ:CRON) stock has
