These 2 Marijuana Stocks Moved in Completely Opposite Directions Last Week
In case you haven't noticed, marijuana stocks have been nothing short of unstoppable over the past year. As of a few weeks prior, the average marijuana stock with a market cap in excess of $200 million had risen an average of more than 300% over the trailing-12-month period. And if we look at some of the macro catalysts behind these moves, it's not hard to understand why marijuana stocks have come into focus.
For example, the percentage of respondents in surveys who favor the legalization of cannabis across the country has been on a pretty steady incline in recent years. Both the 2016 Gallup poll and April 2017 CBS News survey showed an all-time respective high of 60% and 61% of respondents who now want to see pot legalized nationally. A separate survey from Quinnipiac University in April found an overwhelming 94% of Americans want to see medical cannabis legalized. The thought here is that if consumers want marijuana legalized, elected officials will eventually have to listen or risk being voted out of office.
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Source: Fool.com