Cannabis actions soar for hopes of legalization with Democratic victory

Last Wednesday was a great day for the cannabis industry as the shares rose like foam in the hope of its legalization before the Democratic Senators of the United States.

This event happened after Raphael Warnok won the seat in dispute in Georgia by the Senate, while his party colleague Jon Ossof, got the count for the other seat. Following, the House of Representatives led and controlled by the Democrats had issued a project to decriminalize cannabis, a plan that clashed with the opposition of the Republicans in December.

Now, it is well known that the power that the Democrats have in the Senate gives them a more extensive framework to be able to approve a legislation on cannabis. Unfortunately it is not of surprise if suddenly they collide with the obstruction of the party of Donald Trump since the division of the squares is closed.

In this sense, after Wall Street closed, the shares of the Canadian drug and cannabis company Tilray shares rose 13.25% with a price of $10.77, the highest price, according to Investment calculations. On the other hand, in nearby lands, the headlines of Aurora Cannabis rose 5.71% on the Toronto Stock Exchange, at the same time that Canopy Growth gained 11.51% with 38,175 Canadian dollars.

However, when compared to the technology industries, their shares fell sharply, fearing that most Democrats would mean a large representation for the sector. While after the result of the past elections in the United States where Biden won, cannabis had an enormous performance, giving entrance to states like Montana, New Jersey, Dakota of the South and Arizona legalized the adult use of medical cannabis.

The certain thing is that obtaining the total decriminalization in the country, will give great opportunities to many companies of which their businesses grow with greater force.