Marijuana News Today: U.S. Marijuana Legalization Inevitable, Pot Stocks to Win Big

marijuana news today 28 June Rampinini

Marijuana News Today

In the marijuana news today is a bit of a throwback to a few weeks ago, when the pot headlines were dominated by the push for U.S. marijuana legalization.

With Oklahoma becoming the 30th state to legalize medicinal marijuana, it is clear which direction America is headed in. The U.S. is going to legalize recreational marijuana. Full stop. No ifs, ands, or buts. The only question is when.

Oklahoma is a small state, but, symbolically, it represents a huge shift in the movement toward legalized pot.

A Republican stronghold in the American heartland hardly seems to be a pot smokers’ paradise. And yet, the state approved one of the most permissive medical marijuana proposals.


Some have even likened Oklahoma’s proposal to a push for recreational marijuana, due to the lax directives in terms of doling out marijuana prescriptions.

In the U.S., nine states and the District of Columbia have approved recreational marijuana use. Some polls have as many as over 90% of Americans approving of medical marijuana, while the majority agree with recreational pot as well.

Even President Donald Trump—whom many feared would begin a rollback of marijuana rights across the country, due to his selection of drug prohibitionist Jeff Sessions as attorney general—has come out in support of states’ rights on the marijuana issue, and he seems to be content to leave the drug alone.

Earlier this week, the U.S. Food and Drug Administration (FDA) approved, for the first time, a prescription drug derived from cannabis.

This is forcing a possible reclassification of marijuana from being a Schedule I drug, which would dramatically limit the ability of the federal government to interfere with states that have pot legislation on the books.

The Democrats, meanwhile, have several very prominent figures pushing an agenda that is pro-pot. Among those pot reformers are a number of names that are often bandied about as potential presidential candidates for 2020.

The best-case scenario for marijuana bulls is a president in 2020 who is pro-pot reform and has control of both the House and the Senate.

This dream scenario isn’t all that fantastical. In fact, it’s very plausible and something that could dramatically accelerate the push for marijuana legalization in the U.S.

If that happens, the legal marijuana industry will explode to proportions we’ve only fantasized about.

Consider just how much money all those marijuana stocks are making right now. Consider their valuations. Consider all the growth and amazing development we’ve seen in the industry over the past few years.

Then take all those numbers and multiply them by nine.

While not a straight science, the idea is that Canadian legalization alone was able to generate massive growth within the industry over the past few years. Most of the marijuana pot stocks, after all, are based in the Great White North.

The U.S., however, has nine times the population, as well as a far greater gross domestic product (GDP). Both of those factors would serve to dramatically boost the future prospects of marijuana producers.

Not to mention, institutional investors, which have long been concerned about the possibility of a U.S. government crackdown on pot have kept their capital out of the game. Marijuana legalization in the U.S. would change that immediately.

It’s no understatement to say that U.S. marijuana legalization is the Holy Grail of the industry, perhaps only followed by legalization in the European Union (although that process would be trickier, due to nature of that collective).

Marijuana stocks will be flying sky-high for years to come if the U.S. is able to make progress on that front sooner rather than later.

Aurora Cannabis Stock News

While the marijuana news today on the political front really couldn’t be much better, when you get down to the numbers in the stock market, we’re not seeing especially encouraging growth.

Aurora Cannabis Inc (OTCMKTS:ACBFF, TSE:ACB) is down about five percent this week, but yesterday it gained more than two percent, with most of the marijuana industry seeing a bit of a rebound on Wednesday.

Chart courtesy of

This week has been characterized by a mini-correction that offset much of the gains made last week. But if the past is anything to go by, we’ll likely see a response to that correction by way of moderate gains.

Should those gains prove to be sustainable, we’ll see solid jumps among pot stocks.

Aurora Cannabis stock is still grabbing headlines, however, with its recent acquisition of MedReleaf Corp (OTCMKTS:MEDFF, TSE:LEAF) still underway.

On top of that, Aurora just received a CA$250.0-million loan from the Bank of Montreal (NYSE:BMO). (Source: “Aurora Cannabis signs loan deal for up to $250-million with Bank of Montreal,” The Globe and Mail, June 26, 2018.)

This huge injection of capital will allow Aurora Cannabis stock to carry on in its aggressive acquisitions—should it so choose—or continue to expand its production capacity in anticipation of the upcoming Canadian marijuana legalization.

In either case, Aurora Cannabis stock is likely to remain one of the most intriguing pot stocks in 2018.

Aphria Stock News

Aphria Inc (OTCMKTS:APHQF, TSE:APH) continues to have a rough year, characterized by deeper lows and shallower highs.

When the correction hit this week, Aphria stock plunged deeper than its competitors. That’s even after the stock gained less than its rivals in the rally that took place following the vote last week to legalize marijuana in Canada.

So far, Aphria stock has been one of the weaker performers in the marijuana industry.

The fear of overvaluation has dogged the company for most of the year, and that has really put a damper on the company’s potential gains.

However, there may come an inflection point where the company hits such a low value that investors aren’t as skittish.

As it stands, however, Aphria stock has been unable to register any consistent wins this year.

Cronos Stock News

Speaking of weaker performers, Cronos Group Inc (NASDAQ:CRON) has taken a very different path than Aphria stock, but has ultimately ended up in a similar place.

Despite gobbling up headlines as the first marijuana stock to list on a major U.S. stock exchange, CRON stock has been one of the most uneven performers among the top pot stocks.

That hasn’t changed. CRON stock plummeted by about 10% this week, after not being able to register particularly impressive gains last week either.

CRON stock remains one of my marijuana stocks of concern, more so than Aphria stock, which has proven in the past to be a strong buy. Cronos stock has primarily benefited from hype over substance this year.

Analyst Take

The push for marijuana legalization in the U.S. is going to set the industry on fire—in a good way.

We’ll likely see massive gains when this development arrives. If all goes well, that could be within the next three years. The possibility of huge gains in the marijuana stock market is why I’m always touting the virtue of the industry.