A cannabis investment expert is excited about the changes in the US political landscape for the drug market, but reminded investors there is a long road ahead.
The Investing News Network (INN) caught up with Matt Carr, chief trends strategist at the Oxford Club, to discuss the key things cannabis investors should keep in mind heading into the last few months of 2021.
“Right now I think cannabis is a sector a lot of investors are wary of,” Carr told INN when asked about the state of cannabis investments at the moment.
The expert explained that the wait for any kind of significant change in terms of federal legality in the US has caused down points for the cannabis market right now.
“What we’ve seen with cannabis this year has been a really tough sled since February, since those highs that we saw back in February,” Carr said.
While key individual state markets continue to thrive, and expectations for new ones grow, investment has stalled as more anticipation builds for political changes in the world’s biggest market.
Carr said most experts and industry observers expected some kind of action in Congress following the appointment of Joe Biden as US president.
The expert added that while cannabis bills have gone through various levels of politicking in Congress and the Senate, the value of moving this legislation forward shouldn’t be dismissed.
“It’s more than symbolic, it’s continuing this conversation about cannabis and how we can get it de-scheduled and legalized at the federal level,” Carr told INN.
Watch the video above to hear Carr’s full thoughts on the remainder of the year for the cannabis investment market. You can also click here for more cannabis videos on YouTube.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.