Marijuana stocks got a bit of a boost in the days after a bill to federally legalize marijuana was presented in the U.S. Senate on July 21. The shine didn’t last long, though, with many cannabis stocks giving up those gains since then.
Why? The odds of the Cannabis Administration and Opportunity Act—which was drafted by Senate Majority Leader Chuck Schumer and Senators Cory Booker and Ron Wyden—getting passed are remote.
There are too many “ifs” to keep cannabis stocks trending higher right now, but some marijuana stocks have been defying the pullback. For instance, shares of Planet 13 Holdings Inc (CNSX:PLTH, OTCMKTS:PLNHF) have been trending higher since before the marijuana legalization bill was introduced in the Senate.
Why PLNHF Stock’s Outlook Is Bullish
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