Investors traded up marijuana stock Curaleaf (OTC: CURLF) cautiously on Wednesday, on a set of news items that were mildly positive for its industry. Curaleaf’s share price ticked up by 0.6% as a result, exactly the mirror image of the S&P 500‘s (SNPINDEX: ^GSPC) 0.6% decline on the day.
Expanding medical weed in Texas
In this country, marijuana legalization is happening on a state-by-state basis, as according to federal law, the drug remains illegal. On Wednesday, one state took a key step in expanding its pot regime.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »
Image source: Getty Images.
In Texas, the state Senate approved a bill passed by the House of Representatives to expand Texas’ existing medical marijuana program. The proposed law would add more dispensaries to the state’s existing network. It would also add to the list of qualifying conditions for access to the drug, in addition to allowing it for palliative or hospice care patients.
With senate approval, the bill now needs to be sent back to the house for a new nod, as it was amended by the former chamber.
Potential liberalization in London
Marijuana reform isn’t only on the minds of American public officials. In the U.K., London Mayor Sadiq Khan unambiguously indicated support for making pot law less onerous. The city’s government had commissioned a report from an independent London Drugs Commission.
The document’s findings, Khan said, make for “a compelling, evidenced-based case for the decriminalization of possession of small quantities of natural cannabis.”
Although marijuana decriminalization/legalization enjoys broad support from many citizens both in this country and abroad, politicians have been hesitant to get behind it. These recent steps, small as they are, indicate the ice might be melting. And that would be a fine development for Curaleaf and the rest of the ever-struggling marijuana industry.
Should you invest $1,000 in Curaleaf right now?
Before you buy stock in Curaleaf, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Curaleaf wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004… if you invested $1,000 at the time of our recommendation, you’d have $653,389!* Or when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $830,492!*
Now, it’s worth noting Stock Advisor’s total average return is 982% — a market-crushing outperformance compared to 171% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
See the 10 stocks »
*Stock Advisor returns as of May 19, 2025
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
