What A Biden Presidency Would Mean For Cannabis Stocks

What A Biden Presidency Would Mean For Cannabis Stocks

Democratic challenger Joe Biden is ahead of incumbent Donald Trump by 10%, according to a new general election poll from Rasmussen Reports.

While a potential Biden presidency could pose some challenges for investors, Cantor Fitzgerald analyst Pablo Zuanic said the Democratic platform is good news for U.S. cannabis stock investors.

Full Federal Legalization

The Biden campaign released a 100-page document outlining the Democratic Party platform this week, and Zuanic says there are multiple bullish takeaways for U.S. multi-state operators, or MSOs:

  1. Democrats support full federal legalization of medical marijuana.
  2. Democrats support individual states’ decisions regarding the legality of recreational marijuana.
  3. Democrats plan to decriminalize marijuana use and reschedule the drug federally.

Zuanic said a Biden victory would go a long way in pushing this marijuana agenda forward, but control of the Senate will be key.

For investors, the Democratic platform is bullish for Acreage Holdings Inc ACRGF given the structure of its contingent buyout deal with Canopy Growth Corp CGC, Zuanic explained.

Canopy is likely better positioned to be an early winner in the U.S. market than its Canadian legal producer peers.

In addition, if Democrats pass the STATES Act, Zuanic said it could open the floodgates for legalized cannabis banking services and alleviate and significantly improve the financial situation in the U.S. cannabis space.

Finally, federal legalization of medical marijuana could likely trigger a wave of consolidation, making smaller MSO’s potential buyout targets and providing opportunities for larger MSOs to benefit from gaining market share and scaling their businesses.

Republican Response?

While investors are assuming that the Democratic Party is the best path forward for marijuana legalization, Trump’s poor performance in the polls could pressure Republicans to take an aggressive approach in response.

“For now, our assumption would be they do not. But surely an outright call for full federal legalization of [recreational marijuana] would up the ante,” Zuanic wrote.

Zuanic’s top stock picks among U.S. MSOs are Overweight-rated Cresco Labs Inc. CRLBF, Green Thumb Industries Inc. GTBIF and Trulieve Cannabis Corp. TCNNF.

Benzinga’s Take

The best-case scenario for cannabis investors would be for Democrats and Republicans to go head-to-head in a battle for the marijuana vote. A November 2019 poll by Pew Research Center found that 78% of Democrats and Democratic-leaning independent voters support marijuana legalization and 55% of Republicans and Republican-leaning voters do as well.

Do you agree with this take? Email feedback@benzinga.com with your thoughts.

Related Links:
Analyst Explains Why He's Bearish On Tilray And Aurora Cannabis, Recommends MSOs
Canopy Growth Analyst Sees Increasing Cannabis Market Share, Little Stock Upside

Posted In: Cantor FitzgeraldDonald TrumpJoe BidenPablo ZuanicAnalyst ColorCannabisGovernmentM&APenny StocksPoliticsTop StoriesMarketsAnalyst RatingsGeneral

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11 Best Black Friday Deals on Amazon

11 Best Black Friday Deals on Amazon

The best Black Friday deals from Amazon are still coming hard and fast because the holiday is not yet upon us and the mega-retailer prefers to keep consumers on the hook for as long as possible—spending as much money as possible. 

To that end, here are some of the best Black Friday deals from Amazon that you might want to consider today.

Calphalon 10-Piece Pots and Pans Set

Regular Price: $172

Sale Price: $138.88

Calphalon’s 10-Piece Pots and Pans Set is designed with stainless steel, stay-cool handles along with pour spouts. The nonstick surface is PFOA-free and built with hard-anodized aluminum that is both durable and conducts heat extremely well. The set includes 2 fry pans, a sauce pan with cover, saute pan with cover and large stock pot with cover.

Apple AirPods 2nd Generation

Regular Price: $144

Sale Price: $85.49

The 2nd Generation AirPods from Apple connect to all Apple devices and give you an enhanced listening experience. Plus, they come with a case that keeps them safe and allows you to charge them in a secure environment. With over 24 hours of battery life, access to Siri and easy setup, you can start listening to your favorite tunes or podcasts today.

Adidas Ultraboost 21 Running Shoes

Regular Price: $129.98

Sale Price: $89.98

The Adidas Women’s Ultraboost 21 running shoe is perfect for anyone who likes a short run, maybe a 5K, half marathon or more. Coming in several colors and styles, you can slip these shoes on, enjoy the cushioned outsole, sink into the supple insole and secure laces.

Ninja AF101 Air Fryer

Regular Price: $129.99

Sale Price: $97.83

The Ninja AF101 Air Fryer allows you to crisp, roast, reheat and even dehydrate food products faster and cheaper than ever before. It has a 4-quart capacity and offers a wide temperature range along with several time settings so that you can customize each dish to your needs. Plus, all the parts are dishwasher safe.

Beats Solo3 Wireless On-Ear Headphones

Regular Price: $199.95

Sale Price: $99

Beats by Dr. Dre are among the best headphones on the market, and the Solo3 Wireless On-Ear Headphones include the Apple W1 chip, Class 1 Bluetooth and 40 hours of battery time. These headphones even have a built-in microphone and offer an adjustable fit so that you can be comfortable whether you’re listening to an Android or iOS device.

Hoover Power Scrub Deluxe Carpet Cleaner

Regular Price: $198.98

Sale Price: $175.98

The Hoover Power Scrub Deluxe Carpet Cleaner allows you to keep your home spotless and clean up after your pets. The cleaner comes with the Hoover Paws and Claws Deep shampoo and a storage mat to keep the floor dry once it’s put away.

LG CordZero Auto Empty Cordless Stick Vacuum

Regular Price: $999.00

Sale Price: $851.71

The LG CordZero Auto Empty Cordless Stick Vacuum and Wet Mop All in One Tower is designed to work in homes with several pets or children and clean up all the messes that life brings. The battery lasts up to 2 hours, and there’s an extra removable battery that gives you even more cleaning time and power.

Breville Fresh and Furious Blender

Regular Price: $278.60

Sale Price: $199.95

Breville, a top name in blenders and juicers, offers the Fresh and Furious Blender, featuring 50-ounce capacity, Vac Q technology, pre-programmed cycles, LCD display and lid with pull ring. With the Fresh and Furious Blender, you can make everything from a smoothie to a soup and everything in between.

Hot Tools Professional 2000 Turbo Ionic Hair Dryer

Regular Price: $89.99

Sale Price: $55.63

The Hot Tools Professional 2000 Turbo Ionic Hair Dryer is designed for professional use, but it works perfectly in the home. With 1875 watts of power, 6 heat and speed settings and a lightweight design, you can easily style your hair and utilize the diffuser, cut back on the frizz and stretch the 8 ft cord for maximum functionality.

Columbia Heavenly Long Hooded Jacket

Regular Price: $160

Sale Price: $97.38

The Heavenly Long Hooded Jacket from Columbia is designed to be light for everyday use, but it’s heavy enough to protect you from the cold. The plush fleece lining, security pocket, water resistant fabric, 2-way zipper, and zippered hand pockets make the jacket both protective and functional.

ConAir InfinitiPro Hair Dryer

Regular Price: $49.99

Sale Price: $29.99

ConAir is one of the biggest names in hair and beauty, and the InfinitPro is an 1875 watt hair dryer designed for professionals with ceramic technology. The dryer comes with a diffuser and concentrator, and it allows you to blow out your hair just the way they would at the salon.

Deals the Experts Are Hoping For

Experts believe that Amazon’s Black Friday sale could linger for quite some time. It all started with the Prime Early Access sale on October 11 and 12. Previously, Amazon has offered the “Epic Deals” sale that ran through late October. 

This is to say that any sale could come up at any time. 

Even so, those monitoring Amazon are looking forward to a few potential deals, including:

  • Apple Watch
  • AirPods (any generation)
  • MacBook Pro
  • Large, underpriced TVs
  • Amazon Echo
  • More small home appliances (Dyson or Shark vacuums, Instant Pots, etc.) 

While these predictions are based on last year’s Amazon Black Friday Sale, it’s important to remember that most Black Friday sales are fairly consistent and push the products that are most likely to sell.

 

Featured image sourced from Shutterstock

Posted In: Partner ContentGeneral