Cannabis will reach the US... sooner than later!

Recent significant events:
  • House Passes Bill to Protect Banking for Marijuana Businesses
    Measure would prevent federal regulators from penalizing institutions that serve companies operating in states where cannabis is legal. //September 25th, 2019
  • House committee approves landmark bill legalizing marijuana at the federal level
    The House Judiciary Committee (Democratic-controlled) approved a bill that decriminalizes marijuana on the federal level, removing it from Schedule 1 of the Controlled Substances Act.

    The legislation, which passed 24 to 10, has a high chance of approval in the full House where Democrats control the chamber with 234 seats. It’s likely to face a tougher battle in the Republican-controlled Senate, where Majority Leader Mitch McConnell opposes marijuana legalization. //November 19th, 2019


There is no date for the senate to review the bill; we could see large volatility then. (will update asap)

Technical analysis:
  • Volume on the ladder of the events created the 3rd largest volume daily since MJ ETF was created (2016).
  • 20SMA is our nearest resistance.



--Keeping cannabis related stocks/ETFs closely watched.

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