Election Year Critical for Cannabis’ Reclassification Hopes

With a presidential election and Mitch McConnell stepping down as Senate Republican leader in November, Howard Penney and JT Taylor say the cannabis industry’s future will largely be determined by who fills those key roles.

“Given how bad McConnell was for the cannabis industry, you’d think these four front-runners for his spot would be better,” Penney explains in this clip from The Call @ Hedgeye. “But that might not be true.”

“Our prediction is the Republicans will take back the Senate,” Taylor adds. “So, while McConnell right now is Minority Leader, whoever succeeds him will be Majority Leader of the Senate and move whatever legislation forward, so it is going to be important to cannabis to see who succeeds McConnell.”

Hedgeye CEO Keith McCullough made a major change today to his allocations in Cannabis (MSOS). Subscribe to Portfolio Solutions to follow his actions in 30+ ETFs.

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