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It sure looks that way.
On Monday, Senate Majority Leader Mitch McConnell introduced a new bill to legalize hemp.
Hemp is a type of cannabis plant. It’s one of the oldest crops in existence. Humans have been growing it for many thousands of years and it has many roots right here in America.
As American as Hemp
It was once an important crop in this country. Even some of the Founding Fathers grew it. Some think the original Declaration of Independence was written on hemp paper.
During Colonial times, you could even pay your taxes in hemp!
Hemp fibers are incredibly strong, and they were used to make everything from rope to textiles and paper. We’ve found many additional uses for hemp, including using it to make super-strong plastics.
In the 1930s, thanks to the invention of new agricultural and processing machinery, hemp was touted as a potential “billion-dollar crop” that could be used in 25,000 products, create thousands of American jobs and reduce foreign imports.
Also in the 1930s, Henry Ford built a car out of hemp-containing panels, declaring them 10 times stronger than steel… and he even used a sledgehammer to prove its impact resistance.
Hemp’s wonderful future never came to be, however. Hemp got caught in the federal effort to ban cannabis, despite the fact that hemp does not contain appreciable quantities of psychoactive THC.
Hemp is rich in CBD — which has a wide range of therapeutic uses. Even now, despite the fact that CBD is legal, there are companies that have to import hemp in order to make products.
Right now hemp cultivation is illegal at the federal level; we can only grow hemp in the handful of states that allow it. Even with limitations, production is booming, with land and producers doubling in 2017 in states that allow its cultivation.
If McConnell’s bill passes, the potential growth is enormous. Moreover, it’s another step on the road to full cannabis legalization in the United States.
U.S. Pot Market Update
The major players in the U.S. pot index are starting to recover losses, tracking up and to the right the past few days.
Two stocks doing major heavy lifting for the index and worth considering as portfolio adds are Surna Inc. (OTCBB: SRNA) and GW Pharmaceuticals (NASDAQ: GWPH).
Surna Inc. operates as cultivation and engineering consultants, helping growers reduce margins and increase productivity using technological solutions.
Over the past five days the stock has risen by over 26% and shares still go for less than $0.20 as I write.
GW Pharmaceuticals continues to bank success in treating epileptic seizures with their cannabis-based treatment Epidiolex. The treatment gives GWPH a huge advantage in cornering a significant portion of a $4 billion market for epilepsy drugs.
Over the past five days the stock has risen over 8%.
To be clear, however, these are not official recommendations. They are on my watchlist.
It’s important you do your own research and make sure that these stocks make sense for your investing needs.
If so, either of these two stocks could be a nice play for you.
For Technology Profits Daily,
Chief Technology Expert, Technology Profits Daily
Editor’s Note: A few years ago, if you wanted to invest in marijuana, you had two choices. Do it illegally. Or invest hundreds of thousands of dollars into a legal growing facility or farm. But as more states and countries legalize medical and recreational marijuana, a huge opportunity has opened up. Many experts predict we’re about to see the biggest marijuana boom of our lifetime in 2018.
On April 26th, at 8 pm Eastern, famed speculator (and a marijuana millionaire himself) Doug Casey will join Nick Giambruno on the Pot Stock Millionaire Summit. A special Summit where the Casey team will review the top 5 pot stocks for 2018. And you’re invited to join for free. Click here for details.