Pot stocks boom as industry sees prohibition ending

GameStop and the “meme” stocks have attracted much of the market’s attention in recent weeks, but cannabis stocks have been the market’s real standout in 2021 thanks to renewed expectations of U.S. legalization.

The big picture: Many have quietly doubled their stock price in less than a month of trading.

Why it matters: Pot stocks have been volatile over the past year, but have boomed since Joe Biden was elected president and could see a run similar to 2018 following Canada’s decision to fully legalize.

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