Aurora Cannabis (ACB) Stock Climbs: Here’s Why

Aurora Cannabis ACB Stock News

Aurora Cannabis Inc (NYSE: ACB) is flying in the market this morning. However, if you’re looking for SEC filings or press releases, well, you’re going to be disappointed. The company hasn’t issued any news. So, what’s the deal? Here’s what’s going on:

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Why ACB Stock Is Climbing

As mentioned above, Aurora Cannabis stock is making a run for the top in the market this morning, but with no news, many are scratching their heads, wondering why. While the company hasn’t issued news, there’s good reason for the gains.

Ultimately, a shift toward legalization of cannabis in the United States seems to be exciting investors. On election day, voters in Arizona, Montana, New Jersey, South Dakota, and Mississippi voted to relax cannabis laws in their states. Of course, state law has no bearing to federal law, and yes, federal law trumps state law. Nonetheless, these results are a big win for ACB and the cannabis sector as a whole.

As one of the largest producers of cannabis in Canada, the company stands to gain quite a bit if the United States were to legalize cannabis on a federal level. While that may seem far off for some, the fact of the matter is that the United States took a major step on election day.

Not only did multiple states relax cannabis laws, suggesting that a federal vote to leagalize cannabis nationally would easilly pass, democrats seem to be winning the White House. Yes, the election results are hotly debated at the moment, but based on everything I’ve seen across all news networks, there’s a strong chance that Joe Biden will be the next President of the United States.

Historically, democrats have looked at cannabis in a more favorable light. Moreover, democrats are often looking for ways to improve the social atmosphere, which costs money. Legalizing cannabis in the United States would drive tremendous tax revenues, helping the Biden Administration to achieve their goals. So, if Joe Biden does become the next President, that will bode well for the cannabis industry as a whole. With ACB being one of the clear leaders in the industry, that would be a massive win for the company.

The Bottom Line

The bottom line is that view toward cannabis are changing in the United States and around the world. As this change takes place, regulatory changes are happening that bode well for Aurora Cannabis and the rest of the cannabis industry.

Should the United States legalize cannabis, the floodgates will open for the company, and with the shift in opinions seen on election day, that’s likely on the horizon. All in all, now is the time to watch ACB and other large cannabis producers closely.

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