Florida's vote could be the next catalyst
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Dear Fellow Investor,
As we get closer to November, cannabis stocks could see higher highs. We already know that 88% of Americans want to see legalization, which the current candidates should use to their advantage for votes. We know that Germany just legalized its use, which could set off a domino effect across Europe. We know cannabis will be rescheduled as a Schedule III drug at some point.
Other than that, it's Florida's upcoming vote on legalization that could really get the ball rolling for some of the top pot stocks. Helping, a new poll from Florida Politics shows that about 64% of Florida voters will vote for legalization. "To pass, the constitutional amendment requires at least 60 percent of the votes cast in November's election," says MarijuanaMoment.net.
The potential legalization in Florida could boost stocks such as:Company: Curaleaf Holdings (SYM: CURLF)
Curaleaf Holdings (SYM: CURLF) is one of the top stocks that could benefit from Florida's vote for legalization. Helping, Alliance Global Partners just raised its price target to $12. In addition, according to CEO Matt Darin, "Our unique exposure to the most significant catalysts on the horizon – continued expansion of the NY market, expansion of Pillar 1 in Germany, and adult use in Ohio, Florida and Pennsylvania sets us up for robust growth in 2025 and beyond."
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Company: Trulieve Cannabis (SYM: TCNNF)
Alliance Global Partners noted that TCNNF is best positioned for potential legalization in Florida. Needham also raised their price target on TCNNF with a buy rating. Analysts at Canaccord also raised their price target to $38, with a buy rating.
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Company: Verano Holdings (SYM: VRNOF)
We can also look at Verano Holdings (SYM: VRNOF), which should also benefit from Florida legalization. For one, the company has 77 dispensaries in Florida. It also just authorized a $50 million share buyback plan.
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