Profit Pregame

The One Stock to Buy as Congress Considers Momentous Cannabis Bills

Ever since the Marijuana Tax Act of 1937 was passed into law, the weed industry has been an illegal, underground venture.

But in recent years, entrepreneurs that are willing to brave the space have broken into the cannabis business as more and more states have passed laws allowing sales.

Despite public sentiment around marijuana use trending much more positive over the last decade – with polling showing that 68% of Americans now support legalization – marijuana remains classified as a Schedule 1 drug on the Federal Controlled Substance list.

For those in the cannabis industry, that classification means that they are unable to access financial services and banking due to concerns over potential federal penalties.

But depending on how lawmakers vote on two proposed bills in the coming months, we could be on the verge of a profound change for the cannabis industry.

And since cannabis stocks have languished over the last several months, now could be a great time to jump into this industry with unbelievable profit potential.

Right now, there are two bills being considered by Congress that would be transformative for the cannabis industry.

The first is the SAFE Banking Act, which would protect banks and financial institutions from federal penalties for doing business with cannabis companies in state which allow marijuana sales.

The other is the newly announced Cannabis Administration and Opportunity Act, which seeks to de-schedule cannabis on a federal level, expunge prior non-violent cannabis convictions, and allow states to set their own policies in regards to marijuana.

While both bills would still need to pass through Congress and be signed into law – which is far from a sure thing – they would usher in a new era for the U.S. cannabis market.

And the profits that would follow would be massive.

As I see it, the biggest beneficiary of these bills passing would be Canopy Growth Corp. (CGC) – which is one of the largest cannabis companies in Canada.

In 2019, CGC and Acreage Holdings – a cannabis producer based in New York – inked an acquisition deal that would allow Canopy to quickly break into the U.S. market should cannabis become federally permissible.

The U.S. cannabis market, even with the limitations placed on it currently, already generates as much as $92 billion per year. And with more and more states set to allow cannabis sales to begin in the coming years, I expect that number to increase significantly.

Currently, CGC is trading at more than a 50% discount to the highs it achieved in January 2021, making this a great buying position to get in ahead of the potentially massive shift in the cannabis space.

Trading tip of the week

Technical analysis is so important in trading because it shows the difference between buyers and sellers in the market and where previous levels of support and resistance are.

Finding where the biggest money in the market is flowing with S.C.A.N. is only half the battle. I will often times pass up on a signal if the technicals don’t give me a favorable setup.

It can be a lack of necessary trading volume, high RSI, or any number of factors that can create a bad trade setup. So don’t just jump into a position because you’re seeing a lot of money flowing into a stock.

Earnings report to watch

As demand for travel and a number of other industries that rely on oil heats up after the pandemic, we’re seeing a lot of investors turn their eye back towards energy stocks.

This week Halliburton Company (HAL) will report its Q2 2021 results on Tuesday before the opening bell.

Just how much of an earnings beat or disappointment this drilling products and services supplier delivers will give investors a good read on just how much of a recovery the U.S. oil industry has made so far.

Drilling activity has reportedly been picking back up in the last quarter as many businesses are able to operate at higher capacity after the vaccine rollout.

With HAL’s share price having dipped more than 18% since mid-June, any surprises to the upside could send this stock significantly higher.

The Best Stocks to Play the 2021 Cannabis Boom

Th doors to a $27 trillion industry have finally been unlocked, and investors have the potential to make a fortune on the U.S. cannabis revolution.

But you won’t make the kind of explosive profits that the market’s top 1% achieve by just parking your money in the same stocks every other retail investor is trading.

To make money like the Wall Street elite, you need to know about a “special situation” scenario unlike anything else out there.

It’s called it a “Cannabis Venture Trust” – and it’s already given Cannabis Inner Circle the chance to score profits of 113%, 267%, and an unbelievable 650% in 2021.

Projections show the cannabis market could soar by a potential 10,400% in the next five years, making now the best time to stake your claim.

Ready to learn more? Click here for all the details.

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