The Grass May Be Greener on the Other Side

Cannabis stocks took a large leap today (Cannabis ETF, THCX +7.37%) following the vice presidential debate on Wednesday, where Sen. Kamala Harris expressed that the Biden administration will pursue marijuana decriminalization. Over the past year, Aurora Cannabis has seen their stock prices dwindle due a saturation of companies emerging into the new industry, but not enough demand to keep up with the over abundance in supply. From the company's peak to now, they have drastically down sized their operations and diverted some of their efforts into the less profitable market of medical cannabis. It appears that legalization at both the state and federal level in the US may be the catalyst they finally need to get the company back up and running. At much reduced prices, this may be a buying opportunity worth looking into