No financial advice here, but with all the teasing going on in the Trump administration, people are jumping back on the weed stock bandwagon.
We’ve seen this trend happen before, mainly in 2022 when there was an expectation that Biden would do some sort of legalization when in office. That never came to pass, and the stocks have been languishing ever since.
Now, we’re seeing it again. Tilray, in particular, is up more than 100% from it’s peak last year. Other ETF’s like AdvisorShares Pure US Cannabis ETF (MSOS) and Amplify Seymour Cannabis ETF (CNBS) are also doing way better than they did last year.
Because these jumps typically correlate with some news on legalization, it’s unclear if this a bubble that will pop, or just the beginning of a gigantic surge when marijuana gets rescheduled sometime in the future. I just continue to tell myself that at some point, this WILL happen whether it’s this year or five years from now, so I’ll be holding out until then. But again, not financial advice.
Read the original story at Yahoo Finance.
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