A Joe Biden presidency combined with a Democratic-led House and Senate could prove favorable for cannabis stocks.
Tim Seymour, portfolio manager with the Amplify Seymour Cannabis ETF ( (CNBS) - Get Report) spoke with TheStreet's Corey Goldman about why cannabis stocks have been on the move, and what it could mean for investors.
"It's not that it's fully federally legal, but it's really, frankly, an opportunity for investors," Seymour says. "The capital markets around the industry will allow these companies more access to capital and cheaper cost of capital that they can list on the New York Stock Exchange and the Nasdaq."
Seymour also notes that legalization and a more open playing field in the U.S. could attract additional cannabis names, further supporting the industry and its potential from an investing standpoint.
"Canadian names who can't access the U.S. market are listed on the New York Stock Exchange. So, boiling it down to what moves stocks in the cannabis space, obviously, is access. Everybody knows it's a growth industry. Everybody knows that there's a huge opportunity."
Watch the video above to get Seymour's take on why investors should be looking past just weed manufactures, producers and distributors.