Many Americans traditionally view today, April 20, as a holiday that celebrates cannabis. As a result, some investors anticipate that cannabis stocks will rally today.
Also noteworthy is that Leafly’s (NASDAQ:LFLY) CEO, Yoko Miyashita, Nasdaq’s opening bell this morning to kick off the pot holiday.
“Leafly’s online marketplace lets customers shop and select cannabis products from licensed retailers,” GeekWire reported. Founded in 2010, Leafly became a public company . It now “has over and sells advertising to stores and brands.”
What Is Going on With Cannabis Stocks?
Beyond just being a holiday, there are other catalysts for investors to note with cannabis stocks. For instance, U.S. legal marijuana sales will climb 16% today versus the same day last year to , predicted Akerna, which is described by
Adweek as a “cannatech firm.”
On the cannabis legalization front, the U.S. House of Representatives on April 1 passed a on cannabis while letting states decide the drug’s legal status within their borders. In 2021, legal marijuana sales rose .
Other cannabis stocks on watch include Sundial Growers (NASDAQ:SNDL), Clever Leaves (NASDAQ:CLVR), Tilray (NASDAQ:TLRY) and Canopy Growth (NASDAQ:CGC)
On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
