MEDIF - This Top-Performing Pot Stock Plans to Uplist to the Nasdaq
Despite the fact that marijuana stocks have been sort of a train wreck in 2019, with many of the most popular cannabis stocks plunging by a high double-digit percentage this year, we've still witnessed a lot of history being made.
For example, we saw Illinois become the first state to legalize the consumption and sale of adult-use marijuana entirely through the legislative process. Illinois' state-level legalization also included an expungement clause that could throw out prior marijuana convictions for close to 800,000 residents of the Land of Lincoln.
On a broader basis, we also saw the very first cannabis reform bills reach the congressional floor for vote. The Secure and Fair Enforcement (SAFE) Banking Act, which would protect financial institutions that provide basic banking services to pot businesses from federal prosecution in legalized states, was passed 321 to 103 in the House. The House Judiciary Committee also recently voted in favor of the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act, which would remove marijuana from the controlled substances list.