NEW YORK, November 15, 2016 /PRNewswire/ --
TradersNewsSource.com -Proponents of medical marijuana use are generally apprehensive around election time, as new elected leaders and state ballot initiatives can shape the future of medical pot use. Traders News Source examined five companies-Insys Therapeutics Inc. (NASDAQ: INSY); Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE); Cara Therapeutics Inc. (NASDAQ: CARA); GW Pharmaceuticals, and AbbVie Inc. (NYSE: ABBV)-to determine potential election impacts. Additional state approvals of medical cannabis could provide a boost to biotech-cannabis companies; however, change in makeup of the federal government could prove detrimental, depending upon the stances of newly elected leaders.
Read Our Full Report on The Election's Impact on Cannabis Here - Read More
Stock prices in general are always impacted by election returns, the stock prices of companies involved with medical marijuana tend to be more volatile as their products fall under an oblique regulatory regime. While many states have approved the use of medical marijuana, such use is technically still illegal under federal law.
The election results are in with three states approving medical marijuana usage and Republican Donald Trump taking the presidency. How is it going to affect the dozen or so publicly traded biotech stocks involved in the research and development of cannabis therapeutics?. The election results have proven positive, and the lifting of some uncertainty in the sector may prove to be a catalyst for a buy-out or two.
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