The world of cannabis stocks is really heating up lately, thanks to some big moves on the regulatory front. Over in Germany, they’ve just decided to say “yes” to legalizing weed for personal use — up to 25 grams — and they’re even cool with folks setting up “cannabis clubs.” The legislation, though scaled back from its original ambitions, is a pretty big win for cannabis operators in Europe’s largest economy.
Meanwhile, here in the U.S., Vice President Kamala Harris expressed support for rescheduling cannabis during a roundtable broadcast, stating that “no one should be in jail because of marijuana.” This kind of high-level support is getting people excited about what could happen next in the industry, especially with predictions that global sales could hit a whopping $57 billion by 2026.
One company that has captured significant attention is Canopy Growth Corporation CGC, which saw its stock soar an impressive 100% in the week following Harris’s remarks. The company has an upcoming shareholder vote where investors will weigh in on a new share class CGC is creating to tap into the U.S. market.
However, despite this impressive rally, Canopy Growth is currently “Moderate Sell”-rated by the 10 analysts in coverage, and trades
