After a vicious pullback on earnings, and slowing industry growth, the stock is showing signs of life. Not only did Bank of America Merrill Lynch just upgraded the stock to buy from neutral, the House Judiciary Committee is planning a markup on the Marijuana Opportunity Reinvestment and Expungement Act (More Act).
“Our marijuana laws disproportionately harm individuals and communities of color, leading to convictions that damage job prospects, access to housing, and the ability to vote.” Committee Chairman Jerrod Nadler said, as quoted by MarketWatch. “Recognizing this, many states have legalized marijuana. It’s now time for us to remove the criminal prohibitions against marijuana at the federal level.”
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