Is the cannabis sector about to light up? Following the U.S. House Judiciary Committee’s monumental decision to approve the Marijuana Opportunity Reinvestment and Expungement (MORE) Act on Nov. 20, investor focus has locked in on this area of the market. With the passage of this legislation, the cannabis industry takes a huge leap forward as the bill would remove marijuana from the Schedule I list of controlled substances as well as decriminalize it at the federal level. However, the bill wouldn’t legalize the substance. “Today’s vote marks a turning point for federal cannabis policy, and is truly a sign that prohibition’s days are numbered,” executive director of the National Cannabis Industry Association Aaron Smith stated. As 65% of Americans support the legalization of marijuana, according to a CBS News polling conducted in April, is now the time to snap up marijuana stocks? Wall Street seems to be advocating that investors do just that. Analysts remind investors to focus on the names poised to soar through 2020. The most compelling investments can be the names making moves behind the scenes. Using TipRanks’ Stock Screener, I was able to pinpoint five marijuana stocks that have been flying under the radar. While largely avoiding the spotlight, these names boast upside potential that demands attention. I’m talking in the triple digits. Let’s dive right in.
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