Motley Fool Reports Strong Gains in These 2 Marijuana Stocks Last Week.
Though speculators’ eyes may be on bitcoin and other cryptocurrencies at the moment, arguably no group of stock-based equities has been stronger over the trailing year than marijuana stocks. If we look at some of the catalysts behind the pot industry, it’s not hard to see why investors are seeing green.
Perhaps the biggest factor moving marijuana stocks is the public’s rapidly changing opinion toward cannabis. National pollster Gallup, which has periodically taken polls on the public’s opinion of legalizing weed, found that only 25% of its respondents supported such a measure in the mid-1990s. Comparatively, an all-time record high of 60% wanted to see weed legalized across the U.S. based on its most recent poll in Oct. 2016. The higher this favorability rating goes, presumably the more pressure that’ll be put on lawmakers in Washington to elicit change in the federal law governing marijuana.