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Marijuana today
I will not understand that mid-term elections are extremely important for the US marijuana market, but the news about marijuana today is really about what's happening tonight rather than today.
As I have written many times before, a number of Americans go to the polls today with the state's proposal to legalize any form of marijuana.
Michigan and North Dakota are voting today to legalize the recreational pot, while Utah and Missouri are the subject of a referendum on the medicinal jar.
In any case, any victory in the polls for marijuana brings us closer to the complete opening of a US market.
That said, despite the political impact on the marijuana industry, we are witnessing a mbadive outbreak of several marijuana stocks.
That being the case, let's take a look at the pot stocks that are driving the current gains.
CGC Action
Canopy Growth Corp (NYSE: CGC) is one of today 's top marijuana news.
CGC shares jumped about 7% in morning trading, continuing the very impressive trend of recent days.
While I was predicting a correction was in reserve for the marijuana industry – with many marijuana stocks having lost value over the past two weeks – I thought this withdrawal would take several weeks to arrive at its term.
The current increase does not necessarily mean that we will not witness a decline in the near future, but that means that at least we are witnessing a period of strong growth to offset a loss of longer time. correction.
On the other hand, if I am wrong and we have already found the worst of this decline, this cycle could be the start of another special period in the marijuana industry.
CGC's shares have grown about 26% over the past five days, reflecting the mbadive rebound in the industry.
Again, that does not mean we're sure we've managed to get through this correction. But, it could very well mean that we have seen the end, which would put us in the spotlight for a huge recovery in the market.
As always, the CGC stock remains one of my favorites in the marijuana industry because of its solid foundation.
No other company in the sector has the necessary foundations to grow for years, just like CGC's actions.
While marijuana penny stocks and other less well-known companies may offer more growth potential in the short term, CGC's stock is a safe choice to make significant gains for years to come.
CRON actions
While many pot stocks have risen sharply today, Cronos Group Inc (NASDAQ: CRON) led the way with an impressive double-digit rise this morning.
Up about 10%, CRON shares were among the best performers in this mini-series on the marijuana market.
The company has recorded a gain of about 28% over the past five days.
The title CRON has always been a bit more volatile than its competitors. This is largely due to his presence on the Nasdaq.
While many marijuana stocks seek to join the New York Stock Exchange (NYSE), the Nasdaq remains relatively untapped by the marijuana market.
Thanks to its unique position, which is one of the only stockpile stocks on the stock market, CRON shares often work at their own pace. In recent days, however, he has joined the sector's upward trend.
HYYDF Actions
Another of my favorite marijuana stocks that has seen its price rise today is Hexo Corp (OTCMKTS: HYYDF, TSE: HEXO).
The Hexo stock is reminiscent of CGC in that they both rely on very solid foundations via supply agreements, increased production capacity and a comprehensive approach to the market. pot industry.
HYYDF shares jumped around 7% in morning trading. Like CGC shares, it has increased about 30% over the past five days.
Even better for Hexo Stock is its next listing on the NYSE.
This could be a great moment for the company, opening it up to another mbadive capital flow via the NYSE International Stock Exchange.
However, what makes this movement really exciting is that it is linked to the month of December. If the correction has completely dissipated and we are in a period of economic prosperity in December, expect to see huge gains on the Hexo share, as its event pushing the stock price coincides with a market bullish.
Performance of CGC, CRON and HYYDF shares
The graph below shows the performances of the CGC (black line), CRON (blue line) and HYYDF (red line) actions of the past week:
Map courtesy of StockCharts.com
Analyst outlet
The results of today's mid-term elections will have a significant impact on the future of marijuana in the United States.
This goes beyond the states facing a pot referendum to politicians who will soon control the legislative process in the coming years.
Although no party has yet imposed itself on marijuana, Democrats are much more liberal in terms of pro-marijuana policy than they have ever been. If they succeed today, expect to see a friendlier tone on the pot move forward.
And in the midst of all this, we are seeing the marijuana industry take off, giving investors something to be excited about in the meantime.
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