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Pot stocks surge for a second day after a marijuana legalization act passes a key vote | Markets Insider

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Pot stocks surge for a second day after a marijuana legalization act passes a key vote

Next, the bill will go to the House for a vote, where it's widely expected to be supported by the Democratic majority. It faces tougher scrutiny in the Republican-controlled Senate, especially as Majority Leader Mitch McConnell is firmlyWhile the MORE Act passing the key vote is a good thing for the cannabis industry, the road ahead to legalization in the US is far from certain, according to W. Andrew Carter of Stifel.

"We believe this has a very low probability of success," Carter wrote, even though the"legislation's momentum underscores our robust long-term outlook for the global cannabis industry." where disappointing earnings sent shares tumblingWhile many pot stocks are still a far cry from an all-time high, the rebound is positive.

 

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