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8 Feb, 2021 Author Michael O ConnorJason Woleben
Democrats in Congress are pushing for federal cannabis reforms as more states pursue legalization and shares of cannabis companies continue to rise.
Democratic leaders in the Senate on Feb. 1 issued a joint statement saying they would soon release draft legislation on comprehensive cannabis reform and would prioritize the effort. Having the Senate majority leader back cannabis reform legislation is unprecedented and the statement is fueling optimism in the industry, Charles Alovisetti, a cannabis lawyer and partner at Vicente Sederberg LLP, said in an email.
The formal commitment to cannabis reform by Senate Democrats suggests there is a strong chance of legalization reaching President Joe Biden s desk, Owen Bennett, a Jefferies analyst, said in a Feb. 1 report.
IE Staff
Investors are decidedly more optimistic about their first-quarter return prospects than advisors, according to a survey from Toronto-based Horizons ETFs Management (Canada) Inc.
Horizons’ latest quarterly survey of investor and advisor sentiment found that investors are generally bullish about the return prospects for Canadian and U.S. equities.
After the S&P/TSX 60 grew by 6.98% in Q4 2020, investors increased their bullishness on large caps by 19 percentage points to 56%, while advisors reduced their bullishness by 13 percentage points to 48%.
The S&P/TSX capped energy index, meanwhile, grew by an impressive 39.91% in Q4, prompting investors to increase their bullishness by 25 percentage points to 52%. Advisors, however, increased their bullishness by only 3%, remaining neutral overall on the energy sector.
The earnings season is in full swing, with a number of companies are expected to report results this week.
Here is a short overview of which companies are slated to post their results, as well as some other major developments from the industry that investors should be keeping an eye on.
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