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Symbolic day for cannabis setting up with House vote on tap

- Tomorrow could be a historic day for the cannabis sector if the House
of Representatives votes to approve the MORE Act on cannabis legalization
as expected. While the bill will be almost surely blocked by Mitch
McConnell in the Senate, there is still some focus on the vote, according
to Cowen.
- "Key to watch in the House is whether re-elected Democrats vote
against the MORE Act or if re-elected Republicans vote in favor of the
bill. As the Democratic margin will shrink next year, these defections
could tell us whether the MORE Act could pass next year," observes Cowen
analyst Jaret Seiberg.
- Seiberg calls the cannabis Senate stall frustrating, but reminds that
legislation typically takes years to pass. "Real efforts to legalize
cannabis are only two or three years old. To get a House floor vote this
soon is extraordinary and it only reinforces our view that it is just a
question of when -- not if -- Congress legalizes cannabis," he notes.
- Stocks to watch: Aphria (NASDAQ:APHA), Aurora Cannabis (NYSE:ACB),
Aphria (APHA), Hexo (NYSE:HEXO), Tilray (NASDAQ:TLRY), Canopy Growth
(NYSE:CGC), OrganiGram (NASDAQ:OGI), KushCo (OTCQX:KSHB), Green Thumb
Industries (OTCQX:GTBIF), Trulieve Cannabis (OTCQX:TCNNF), Curaleaf
Holdings (OTCPK:CURLF) and Cronos Group (NASDAQ:CRON).
- ETFs in the mix: ETFMG Alternative Harvest ETF (NYSEARCA:MJ) Amplify
Seymour Cannabis ETF (NYSEARCA:CNBS) and AdvisorShares Pure Cannabis ETF
(NYSEARCA:YOLO).





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