Will Marijuana Stocks Soar If Biden Wins and Sink If He Loses?

April 20 (4/20) has long been the most celebrated day of the year in the cannabis industry. But it's possible that the industry could have a lot to celebrate this year on Nov. 3 -- Election Day in the U.S. However, there's also the potential for the cannabis industry to be disappointed.

Democratic presidential nominee Joe Biden hasn't been supportive of marijuana legalization in the past. But if he's elected in November, it could be one of the most pivotal milestones toward legalizing pot yet. A task force formed by Biden and Sen. Bernie Sanders supported the federal legalization of medical cannabis and allowing states to make their own decisions about recreational marijuana. Assuming a President Biden adopts these causes, the U.S. cannabis industry could be changed forever.

So will marijuana stocks soar if Biden wins and sink if he loses? The answer isn't as clearcut as you might think.

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Source Fool.com