After a long struggle for legalizing cannabis, the US president finally makes a significant step to remove marijuana from criminalized drug list. As CNN reports, Biden on Thursday pardoned all prior federal offenses of simple marijuana possession, a move that senior administration officials said would affect thousands of Americans charged with that crime.
As part of the announcement, Biden also encouraged governors to take similar steps to pardon state simple marijuana possession charges, a move that would potentially affect many thousands more Americans.
Eventually, the demand for cannabis will increase, and the industry is fully prepared to increase the supply via diversified products.
This news pushed all the marijuana stocks up by at least 20%. Even Canadian stocks grew drastically. TLRY, SNDL, CGC, ACB, TCNNF, GTBIF, and CURLF were the trending and most actively traded cannabis stocks on Thursday. Today in the premarket they are growing again.