Why Marijuana Stocks Popped on Thursday

Motley Fool2022-03-25

KEY POINTSThe U.S. House of Representatives will vote on the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act next week.What happenedMarijuana stocks exploded higher on Thursday, with ...

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Comments

AndrewL
2022-03-25
AndrewL
Nice 👍
Justinslh
2022-03-25
Justinslh
Nice
MelChen
2022-03-25
MelChen
Up up up
johnpang
2022-03-25
johnpang
Still down
Mellowwww
2022-03-25
Mellowwww
Nice
JcJc
2022-03-25
JcJc
Good 👍

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The House Rules Committee will begin preparing the bill for floor action on Monday, including figuring out any amendments that might be voted upon.That accomplished, the bill will move to the floor for a vote by the full House. The exact date for the vote has not yet been determined.Assuming the bill passes (as it did the last time it came up for a vote, in December 2020, by a vote of 228 to 164), it will move to the Senate for consideration.Now whatSuccess is not assured. Last time the MORE Act made it to the Senate, it died there. Also worth noting is that the Senate is working on its own marijuana legalization bill, the Cannabis Administration & Opportunity Act (CAOA), and if it passes that one, then the two legislative bodies would need to reconcile their two bills and create one final compromise bill to send to President Biden.Even then, success would not be assured, as -- at last report -- the president was himself personally opposed to legalizing cannabis.That being said, hope springs eternal for marijuana sector investors, and at the very least, the fact that a bill is moving forward in the House means that there's some forward momentum here. The more votes marijuana legalization wins in whichever house chooses to pass it, the better the odds that at some point in the not-too-distant future, the stars will align and a bill of this type will become law.Once that happens, cannabis companies can finally get to work on transforming legal sales of marijuana into actual cash profits for their shareholders.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9010023914,"gmtCreate":1648211801143,"gmtModify":1676534317504,"author":{"id":"3571815908504020","authorId":"3571815908504020","name":"AndrewL","avatar":"https://static.tigerbbs.com/f45655eaaab14f0b61c554eea4d95ca7","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Nice 👍&nbsp;","listText":"Nice 👍&nbsp;","text":"Nice 👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9010023914","repostId":2222003226,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9010016280,"gmtCreate":1648203764375,"gmtModify":1676534316789,"author":{"id":"3578476625539127","authorId":"3578476625539127","name":"Justinslh","avatar":"https://static.tigerbbs.com/4aace6371636c60f0a3a97aacd94721c","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9010016280","repostId":2222003226,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9010007333,"gmtCreate":1648196374070,"gmtModify":1676534316066,"author":{"id":"3579516203633444","authorId":"3579516203633444","name":"MelChen","avatar":"https://static.tigerbbs.com/7dc83c4dd359a76b490cbb2309bb1eee","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9010007333","repostId":2222003226,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9037725579,"gmtCreate":1648186855288,"gmtModify":1676534314952,"author":{"id":"3562062896102327","authorId":"3562062896102327","name":"johnpang","avatar":"https://static.tigerbbs.com/67d6cf5d85cb48ff1ee32e23d1266f98","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Still down&nbsp;","listText":"Still down&nbsp;","text":"Still down","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9037725579","repostId":2222003226,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9037767699,"gmtCreate":1648185370324,"gmtModify":1676534314652,"author":{"id":"4110785461740682","authorId":"4110785461740682","name":"Mellowwww","avatar":"https://community-static.tradeup.com/news/bb65f52523b8fd96be59cc8ebe4a931a","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":0},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9037767699","repostId":2222003226,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9037718119,"gmtCreate":1648179174827,"gmtModify":1676534313960,"author":{"id":"4088126420960140","authorId":"4088126420960140","name":"JcJc","avatar":"https://static.tigerbbs.com/3a18de000ce7013be088f3ab4082bd27","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Good 👍&nbsp;","listText":"Good 👍&nbsp;","text":"Good 👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9037718119","repostId":2222003226,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":84,"commentSize":12,"repostSize":0,"favoriteSize":3,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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