Legalization Stocks Jump With News On New Vote In House
Short sellers have been taking advantage of the falling cannabis stocks over the last year but it looks like things are changing after the announcement that the House panel will be voting later this week.
This will be the second time that this will be voted on since the 2020 elections. The bipartisan bill seeks to expand medical and scientific research and bring forth a federal legalization for the US which is very much needed for the global market to flourish.
Companies like Sundial, Tilray and some ETF's jumped 10 to 15 percent in the week since the announcement came out putting a squeeze on short sellers.
Legalization has become a bipartisan topic these days so it is definitely a distinct possibility that we could see legislation pass soon. Many Republican states are starting to legalize medically and more looking into legalizing fully.
It's been a great week for those buying stocks low and with the coming vote we shall see how much higher it will go.