The USA of Joe biden think green. The Democratic candidate, who has become the new tenant of the White House, not only comes from promising a mega-investment in renewables, and its landing in the oval office is already being celebrated by the marijuana.
Aurora Cannabis, the listed flagship of the sector in the US, closed the session on Thursday with a rise of 34%. And he has done so after it was known that Biden was already brushing the presidency with his fingers.
To the rises of Aurora, the title that more investors own in the broker without commissions Robin HoodAccording to MarketWatch, it was followed by increases in other companies in the sector such as Tilray (+ 29%) and Chronos (+ 16%), which has also beat expectations with its quarterly results.
Why is a Biden win for marijuana so positive? In the first place, the market discounts that an Administration led by the hitherto Democratic candidate carries out a banking reform sooner rather than later, something that the stock markets celebrate.
Second, the elections have allowed the so-called 'green wave' to spread to four new states (Arizona, New Jersey, Montana and South Dakota), which have taken advantage of the elections to legalize the use of cannabis in adults. Mississippi hasn't gone that far, and has only approved its medical use.
MARIJUANA ALREADY REACHES ONE IN EVERY THREE AMERICANS
The legal irruption of cannabis in these states allows marijuana to be available to more than 111 million Americans or, what is the same, to 33.8% of the population.
"I would say this is one of the best scenarios for cannabis investors," he acknowledges. Korey bauer, manager of Cannabis Growth Fund from Foothill Capital Management. "The ideal would be an absolute Democratic majority, but we will have to wait," he adds.
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