Could Cannabis Legalization See Bipartisan Support?

11/08/21 02:38PM EST

In this clip from The Call @ Hedgeye, Consumables analyst Howard Penney and Chief Political Strategist JT Taylor react to some unexpected support for Cannabis legalization from Republican Congresswoman Nancy Mace. Future cannabis stock performance is largely tied to legislation being passed in Washington.  

“If you didn’t know it, now you know. The epicenter for everything cannabis is Washington DC,” exclaims Penney. "It’s been a painful ride along with the Biden approval rating and the dislocation the Democrats have provided the cannabis industry, but it looks like things may be changing.”

“What Mace’s bill will do (and this is significant), it might move the ball on this Schumer bill in the Senate,” notes Taylor, referring to similar legislation proposed by Senate Majority Leader Chuck Schumer of New York.

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