Don't Buy Pot Stocks Just Because the U.S. House Will Vote on Legalizing Marijuana This Month

A historic vote by the U.S. House of Representatives is on the way this month. House Majority Whip James Clyburn recently said in an email that the full House will vote in September on the Marijuana Opportunity Reinvestment and Expungement Act of 2019, also referred to as the MORE Act.

This vote will be a major milestone for the cannabis industry because it will be the first time either chamber of the U.S. Congress will consider removing marijuana from the list of federally controlled substances. The MORE Act also would expunge all nonviolent federal convictions related to marijuana.

With such a pivotal legislative moment right around the corner, you might think that marijuana stocks are on the verge of taking off. That could be the case, but don't buy pot stocks just because of the upcoming vote on decriminalizing marijuana. Here's why.

Source Fool.com