At 8 pm EST, the House announced that it passed the bill that would allow the cannabis industry to get banking accounts and start being treated like standard businesses with banks. This would likely include loans and investment opportunities that crippled this industry. Next is the Senate, which are pro-business so this will be interesting to watch. I foresee this stock breaking out of its near term bull pennant and going into an uptrend to around $20 per share. This should be around 10-15% returns. Easy run up for day traders.
Happy Investing!
Happy Investing!
Comment:
Cannabis industry "tumbled" on concern that the Senate will not passing the SAFE Banking Bill. However, the Senate is split 50/50 with the VP being the tie-breaker. So, I expect this bill to pass. There is little evidence that Cannabis will be denied this from any Democrat. I am still bullish on this ETF and the Cannabis industry.