Top Cannabis Stocks To Watch In This Market Downturn
As the market pulls back significantly so are the best marijuana stocks to buy in July. After some upward momentum in June, the top cannabis stocks to invest in are trading at some of their lowest stock prices in 2021. With this drop in the cannabis sector comes the opportunity for investors to add to their positions or start new investments at these lower market values. In reality, these lower values could produce significant upside for top pot stocks once the market begins to recover.
In 2021 many analysts are predicting the cannabis market could rebound this year once certain catalysts come into play. One of those catalysts could be federal marijuana legalization and reform. Last week Senate Majority Leader Chuck Schumer unveiled a draft of the Cannabis Administration and Opportunity Act. This bill has been long anticipated by lawmakers and has been revealed to gain support from stakeholders in Congress.
Unfortunately, moments later there was a statement from the White House on Biden's administration not necessarily backing this bill. Instead, Biden would prefer a bill with slower legalization than the current one presented by Schumer. Biden promised on the campaign trail he would decriminalize cannabis but does not support full legalization at this time.
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