Curaleaf Holdings Inc T.CURA

Nothing' from U.S. legalization priced into pot stocks

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• MARIJUANA

Jul 14, 2021

 

'Nothing' from U.S. legalization priced into pot stocks: Curaleaf exec chair

The head of the biggest cannabis company in the United States said a draft bill to legalize cannabis in America is a "game changer" that could spur a rise in valuations for pot firms if it gets passed into law.

On Wednesday, a group of U.S. Democratic senators led by Majority Leader Chuck Schumer unveiled a cannabis reform bill that would deschedule the drug as a controlled substance which in turn would allow pot companies to uplist onto senior stock exchanges and provide safe harbour for larger investors to invest in marijuana companies. The draft bill is open for public comment until September before a final version would be formally introduced in the U.S. Senate for a debate and ultimately, a vote.

"I think nothing has been priced in," said Boris Jordan, executive chairman of Curaleaf Holdings Inc., in an interview Wednesday.

https://www.bnnbloomberg.ca/nothing-from-u-s-legalization-priced-into-pot-stocks-curaleaf-exec-chair-1.1629027

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"I think that the valuation of these companies today is based on the fact that we have two hands tied behind [our] back. Even with the spectacular growth we're seeing, virtually no institutional money participates in the U.S. [multi-state operators] at this point in time. This bill will allow them to do that."