If you think it's a challenging time for Wall Street, take a closer look at how poorly marijuana stocks have performed since February 2021. With federal cannabis reforms failing to materialize, pot stocks quickly went from the hottest thing on Wall Street to absolute buzzkills. But that may be about to change.

Last week, President Joe Biden made an address on marijuana that involved pardoning simple cannabis possession offenses, and encouraged Attorney General Merrick Garland and Health and Human Services Secretary Xavier Becerra to review marijuana's current scheduling under the Controlled Substances Act. In other words, the president took the first steps to potentially legalizing marijuana at the federal level.  

Image source: Getty Images.

Continue reading

Source Fool.com