Marijuana Stock Report: Pot Stocks Climb As Boehner, McConnell Help Shift Political Winds – PotNetwork (blog)

The North American Marijuana Index rose on Thursday, as events in the political arena signaled a changing tide to pot stock investors. On Wednesday the marijuana industry gained a new spokesperson when former Republican Speaker of the House John Boehner joined the advisory board of Acreage Holdings, a cannabis firm active in 11 U.S. states. “Over the last 10 or 15 years, the American people’s attitudes have changed dramatically,” he said in an interview. “I find myself in that same position.”

Thursday saw political winds shift even further towards the cannabis industry as Republican Senate Majority Leader Mitch McConnell introduced a bill to legalize industrial hemp at the federal level. The bill called the Industrial Hemp Act of 2018 would give farmers access to banking rights, flood insurance, and other notable necessities currently unattainable to the industry.

“As the tobacco industry has changed, some farmers in states like Kentucky have been searching for a new crop that can support their families and grow our agricultural economy,” said McConnell upon introducing the bill to the Senate. “And many believe they’ve found such a product: industrial hemp. But the federal government has stood in the way. Mr. President, it’s time to change that.”

Experts are calling it a watershed moment for cannabis legalization as it appears that marijuana has officially gone mainstream. The Index jumped 5.68 points in trading on Thursday, an increase of 2.48 percent, to close out the day at 234.32.

The United States Marijuana Index rose 2.75 points, or 3.57 percent, to end the day at 79.87, while the Canadian Marijuana Index jumped 10.24 points, or 1.71 percent to close out Thursday at 607.58.

Meanwhile, Wall Street saw positive gains on Thursday in anticipation of a strong earnings season and relaxed rhetoric

Read More Here...

This entry was posted in Hemp, MMJ, Cannabis Stocks News. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Trackbacks are closed, but you can post a comment.