Here's When Canopy Growth's CEO Thinks the U.S. Pot Market Will Be Open for Business
The one thing that could send pot stocks soaring in a hurry is the federal legalization of marijuana in the U.S.
If and when that happens, it'll not only be possible for cannabis companies to move their products legally across state lines but it could also result in a flurry of mergers and acquisitions. Canadian companies like Canopy Growth (NYSE: CGC) are especially eager to tap into the lucrative U.S. pot market. Last year, the company entered into a tentative agreement to purchase multistate cannabis operator Acreage Holdings (OTC: ACRGF) for $3.4 billion -- but only once marijuana becomes legal in the U.S.
When that happens is anyone's guess at this point. But Canopy Growth's new CEO, David Klein, believes that day is coming soon. He says that it could happen as early as 2022, and it won't depend on who's elected president in November.
Source Fool.com
