In his State of the Union (SOTU) 2024 address, President Joe Biden emphasized a shift in the federal stance on marijuana, highlighting that no one should be jailed for using or possessing marijuana. This statement aligns with his administration's efforts to evaluate the rescheduling of cannabis and potentially expunge thousands of convictions for mere possession. The announcement had immediate effects on the stock market, with cannabis stocks, including $MSOS, experiencing a noticeable increase in value, specifically $MSOS surged +3.5% in premarket trading. The move is seen as an attempt to appeal to young voters and follows widespread calls for the legalization of cannabis. Critics, however, argue that Biden's actions on cannabis policy remain insufficient compared to the public demand for full legalization.
Cannabis🌱 + Psychedelic🍄 Stock Charts! Big news for $MNMD. Biden mentions cannabis in State of the Union: $MSOS $TCNNF https://t.co/dgIFXRLCgo
Cannabis🌱 + Psychedelic🍄 Stock Charts! Big news for $MNMD. Biden mentions cannabis in State of the Union: https://t.co/gWgFwh5FXt
President Biden has not expunged marijuana records or decriminalized possession, which in any case would fall far short of the legalization that voters want. https://t.co/TqPQJ9orED
Biden's perfunctory SOTU reference to marijuana reform further undermines his attempt to motivate young voters, who overwhelmingly oppose pot prohibition. https://t.co/TqPQJ9oZub
Cannabis stocks get boost from Biden mention in State of the Union https://t.co/pGkPCHUzw0
Cannabis stocks rise after President Biden mentions plant in State of the Union speech https://t.co/DAL7m1myGe
Woooaaa, psychedlic stocks are hot right now! $ENVB $SEEL $MNMD $PBM https://t.co/vsvjMwRO5n
Biden Continues Broken Campaign Promises at State of the Union The American Cannabis Collective Questions Biden’s Failure to Embrace Cannabis Policy with Overwhelming Support $MSOS $MSOX $YOLO https://t.co/x5nRI9mvcK
Trump would have won the 2020 election if he legalized marijuana. It won’t be enough for Biden though. https://t.co/0jMefdBMwN
I think everyone's missing the big news: Last night Joe Biden promised to legalize pot and give us more potato chips & Snickers. That's a radical platform for his second term, and I'm frankly shocked it took America's oldest-ever President to propose it.
$MSOS +3.5% premkt after SOTU address ❖ President Biden calls on his Cabinet "to review the federal classification of marijuana, and expunging thousands of convictions for mere possession, because no one should be jailed for simply using or have it on their record."
Biden's need for weed for 2024 presidential polls https://t.co/vP5D7lzbDY
Biden reiterated in tonight's SOTU address that nobody should go to prison for cannabis use. He touted his administration’s moves to evaluate whether federal marijuana restrictions should be loosened. Live updates: https://t.co/Mof3jIziCd https://t.co/ORH5cRfoii
At the State of the Union address, President Biden touted his efforts on marijuana, a potentially potent issue for young voters. “No one should be jailed for using or possessing marijuana,” he said. #SOTU2024 https://t.co/u531Tnznlw https://t.co/u531Tnznlw
“No one should be jailed for simply using marijuana or having it on the record.” -- @POTUS #SOTU24 https://t.co/vXZlUUK5eg
No one should be jailed just for using or possessing marijuana.
SCOOP: In his #SOTU Biden is expected to emphasize that no one should go to jail for cannabis related offenses. Biden is also expected to say he asked his cabinet to evaluate the rescheduling of cannabis. This is the first time Biden will speak about the issue in this setting.
It’s time to legalize cannabis. #420 $msos
There is a reason I dedicated half of the Cannabis video over the weekend to Psychedelics! $MNMD $CMPS $ATAI $CYBN https://t.co/GVslIHP0SS