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With a Georgia Sweep We Could See a Marijuana Stock Spike
Intro:

In the morning of January 6th, with the appearance that the Senate will be split 50:50, the immediate buy that I see is diving further into marijuana stocks.

Yes, could we look at the industry and manufacturing expecting a Biden agenda to tackle infrastructure or climate change. However, a more explicit agenda item that we saw a previous spike on election night is in the marijuana market following victories on the ballot in individual states. With the potential of federal decriminalization, this is a great opportunity to buy in or add more to my portfolio.

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What I am doing about it:

I already own $ACB and placed purchase orders for $SSPK and will be cautiously watching until I see a confirmed victory for Ossoff.
  • I purchased $ACB back in October and November.


What's next is to see the 100-day agenda that President-elect Biden comes out with. If we don't see any mention of decriminalization and the stock price responds negatively, Ill buy more to lower my cost in $SSPK (maybe $ACB as well, depending on the price change).

My expectation would be any legislation for decriminalization would fall down the priority list compared to reversing Trump's family separation policy and distributing the covid-19 vaccine.

Looking at Biden's own website to see his plan around federal decriminalization and with a democratic majority in both houses of Congress, it's not as much of a matter of if but when.

"Decriminalize the use of cannabis and automatically expunge all prior cannabis use convictions. Biden believes no one should be in jail because of cannabis use. As president, he will decriminalize cannabis use and automatically expunge prior convictions. And, he will support the legalization of cannabis for medical purposes, leave decisions regarding legalization for recreational use up to the states, and reschedule cannabis as a Schedule II drug so researchers can study its positive and negative impacts."

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