Will Canadian Marijuana Stocks Pop on U.S. Legalization?

Canadian marijuana companies look south of their border with thirst and envy. That’s because U.S. federal law prohibits them from selling product directly to American consumers, except in very rare instances.

Will their fortunes suddenly change when and if cannabis is fully legalized in this country? Longtime Motley Fool contributor Eric Volkman and healthcare and cannabis bureau chief Corinne Cardina explore that possibility in this clip from Motley Fool Live recorded on Feb. 5, 2021.

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Corinne Cardina: What do you think about multistate operators and Canadian pot stocks in this context?

Eric Volkman: I think that optimism is well founded. Ultimately, this is only really going one way. You’ve seen that at the state level. You saw decriminalization and very tentatively: “OK, we can allow certain people who need medical marijuana to access the product, and that seems to be going OK. We don’t have stoned-out zombies wandering the streets. Why don’t we try full recreational legalization?” And that went well.

It was an incremental thing, because this is America, don’t forget. For decades, we had a war on drugs, and marijuana and anything related to marijuana was lumped into that. I think there is still something in the American mentality that says there’s something bad or scary or dangerous about this, and to some degree, we have to keep it kind of under control. That’s why…

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Canadian marijuana companies look south of their border with thirst and envy. That’s because U.S. federal law prohibits them from selling product directly to American consumers, except in very rare instances.

Will their fortunes suddenly change when and if cannabis is fully legalized in this country? Longtime Motley Fool contributor Eric Volkman and healthcare and cannabis bureau chief Corinne Cardina explore that possibility in this clip from Motley Fool Live recorded on Feb. 5, 2021.

[embedded content]

Corinne Cardina: What do you think about multistate operators and Canadian pot stocks in this context?

Eric Volkman: I think that optimism is well founded. Ultimately, this is only really going one way. You’ve seen that at the state level. You saw decriminalization and very tentatively: “OK, we can allow certain people who need medical marijuana to access the product, and that seems to be going OK. We don’t have stoned-out zombies wandering the streets. Why don’t we try full recreational legalization?” And that went well.

It was an incremental thing, because this is America, don’t forget. For decades, we had a war on drugs, and marijuana and anything related to marijuana was lumped into that. I think there is still something in the American mentality that says there’s something bad or scary or dangerous about this, and to some degree, we have to keep it kind of under control. That’s why…

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