Democratic challenger Joe Biden is ahead of incumbent Donald Trump by 10%, according to a new general election poll from Rasmussen Reports.
While a potential Biden presidency could pose some challenges for investors, Cantor Fitzgerald analyst Pablo Zuanic said the Democratic platform is good news for U.S. cannabis stock investors.
Full Federal Legalization
The Biden campaign released a 100-page document outlining the Democratic Party platform this week, and Zuanic says there are multiple bullish takeaways for U.S. multi-state operators, or MSOs:
- Democrats support full federal legalization of medical marijuana.
- Democrats support individual states’ decisions regarding the legality of recreational marijuana.
- Democrats plan to decriminalize marijuana use and reschedule the drug federally.
Zuanic said a Biden victory would go a long way in pushing this marijuana agenda forward, but control of the Senate will be key.
For investors, the Democratic platform is bullish for Acreage Holdings Inc (OTC: ACRGF) given the structure of its contingent buyout deal with Canopy Growth Corp (NYSE: CGC), Zuanic explained.
Canopy is likely better positioned to be an early winner in the U.S. market than its Canadian legal producer peers.
In addition, if Democrats pass the STATES…
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