Pot Stocks to Own Before October
3 Oversold Pot Stocks You MUST Buy Now
It’s been a brutal summer for pot stocks.
After a four-year bull run, pot stocks have finally started selling off.
But I can’t say I’m surprised.
After all, at the start of the year, most pot stocks were significantly overvalued.
This correction was absolutely necessary.
And while some folks have taken it on the chin this summer, the reality is that with this recent sell-off has come a new opportunity to make a ton of cash in the cannabis space.
Time to Buy
It would be one thing if the global community wasn’t racing toward legalization.
But that’s not at all the reality.
The reality is that, all over the world, individual countries are making bold moves to decriminalize and legalize cannabis — particularly here in the U.S., where individual states are legalizing cannabis at an unprecedented rate and the federal prohibition on cannabis is now expected to be lifted within the next three years.
Truth is, it’s actually one of the greatest opportunities for investors to get rich on pot stocks.
With fear running rampant through the sector, guys like me, who have already made a ton of money in pot stocks, are happily coming back in and scooping up a ton of bargains.
You should be getting a piece of this action, too, as it’s not going to last.
3 Oversold Pot Stocks
It’s important to understand that every Democrat running for president is supporting some kind of decriminalization or legalization plan.
The House is now heavily populated with representatives that support legalization, and president Trump has been very open to letting individual states legalize without the threat of federal interference.
Make no mistake: Legalization IS happening on a national scale, and only a fool would ignore this opportunity to get rich.
Now, if you’re a regular reader of these pages, you know I’ve been making a crap ton of money in the cannabis space for nearly five years.
And with this recent correction, we’re going back in for another round.
There are a handful of pot stocks that are currently trading in oversold territory. Some of those include:
- Vireo Health (OTC: VREOF)
- iAnthus (OTC: ITHUF)
- Halo Labs (OTC: AGEEF)
But honestly, those are just the beginning.
I actually have an entire report that outlines every pot stock that’s in line for a major run over the next three months. You can click here to get access to that report.
The Victories Are Real!
One thing you have to understand is that even while many of these pot stocks have been selling off over the past few months, the industry has only become stronger this year.
In fact, the Marijuana Policy Project just released a mid-year report, which highlights some of the bigger victories we’ve seen so far this year.
Take a look:
Legalization in Illinois: On June 25, 2019, Illinois Governor J.B. Pritzker made history by signing into law the Cannabis Regulation and Tax Act (CRTA)! The Illinois House and Senate had approved the CRTA in late May. Adults 21 and older will be allowed to possess and purchase cannabis starting on January 1, 2020.
U.S. House Prevents Federal Intervention: For the first time ever, the U.S. House of Representatives approved a budget rider to prevent federal interference with adult-use marijuana laws.
Decriminalization in New Mexico: New Mexico decriminalized cannabis, reducing the penalty for up to half an ounce to a $50 civil fine. (I still call bullshit on this fine).
Medical Cannabis in Georgia: Georgia approved in-state production of medical cannabis with up to 5% THC.
North Dakota Dropped Jail Time for Simple Possession: North Dakota reduced the penalty for up to half an ounce of marijuana from a misdemeanor to an infraction.
Hawaii Decriminalized Small Amounts of Cannabis: Hawaii reduced the penalty for up to three grams of cannabis from up to 30 days in jail and a fine of up to $1,000 to a $130 civil fine. (I call bullshit on this fine, too).
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On-Site Consumption in Colorado: Colorado legalized and regulated cannabis hospitality — such as cannabis cafes — in localities that opt in.
Home Delivery in Colorado: Colorado legalized home delivery.
Workplace Protections in Nevada: Nevada now prohibits most employers from conducting pre-job offer drug testing.
Guam legalized cannabis: The U.S. territory of Guam legalized and will regulate cannabis for adult use.
This report also highlighted some of the more important bills and amendments that are being followed right now.
Protecting Patients: The House Appropriations Committee renewed protections for state medical marijuana programs. The Senate is expected to concur. This budget provision — originally known as the Rohrabacher Amendment — prevents the Department of Justice from interfering in state medical cannabis laws. It has been included in annual appropriations bills since late 2014.
Harris Rider Stripped: The House Appropriations Committee stripped the so-called Harris Rider from its spending bill. If the Senate concurs, this will likely open the door for D.C. to allow commercial sales. (While D.C. voters legalized marijuana possession and cultivation for adults in 2014, the Harris Rider has prevented the District from allowing and regulating sales.)
McClintock Amendment Passed: The “McClintock Amendment,” which would protect adult-use marijuana programs, passed the full House by a vote of 265–167. Like the Rohrabacher Amendment, this is a rider to the annual Department of Justice budget. The Senate has not yet taken up the budget.
Safe Banking Act: The House Financial Services Committee held hearings and passed the SAFE Banking Act (with a bipartisan majority) related to cannabis banking. With over 200 cosponsors, the bill is expected to be on the House floor prior to the August recess. Its prospects in the Senate depend largely on the Chair of the Senate Banking Committee, Mike Crapo (ID). Idaho is one of three states with no medical marijuana law. The Marijuana Policy Project is leading the effort to both organize a ballot initiative to legalize medical cannabis in Idaho and move Chairman Crapo to hold a hearing and vote on the SAFE Banking Act.
Historic Hearing: The U.S. House Judiciary Crime, Terrorism, and Homeland Security Subcommittee held the first-ever hearing in a committee of jurisdiction on exploring alternatives to federal cannabis prohibition. The historic hearing, “Marijuana Laws in America: Racial Justice and the Need for Reform,” also explored the racist origins of cannabis prohibition, the War on Drugs, and the continued disparities in marijuana law enforcement.
Common Ground: Longtime prohibitionists have found two things they agree on when it comes to cannabis. First, there needs to be more research. Second, medical cannabis users should not lose their gun rights for taking their doctor-recommended medicine. Both these points and the legislation they have generated are sure to make for an interesting list of cosponsors.
There are still five more months left in 2019, and I expect to see more action on the policy side when the fall session kicks in.
And this is why you need to take a few positions now before that happens. Because, once the fall session begins and more legalization and decriminalization bills get introduced and passed, these stocks are just going to go higher.
The bottom line is that the cannabis market is gearing up for another big run, and if you don’t take a position in some of these stocks now, you’ll be kicking yourself in October.
So if you want to know which pot stocks are the best to own before the fall legislative session begins, click here now.
To a new way of life and a new generation of wealth...
@JeffSiegel on Twitter
Jeff is the founder and managing editor of Green Chip Stocks, a private investment community that capitalizes on opportunities in alternative energy, organic food markets, legal cannabis, and socially responsible investing. He has been a featured guest on Fox, CNBC, and Bloomberg Asia, and is the author of the best-selling book, Investing in Renewable Energy: Making Money on Green Chip Stocks. For more on Jeff, go to his editor's page.
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