Several encouraging pieces of news about legalized medical marijuana sent Curaleaf Holdings (OTC: CURLF) stock to a win on the first trading day of the week. Shares of the veteran weed company, which is active in both the medical and recreational segments of the market, closed the day more than 2% higher. That contrasted favorably with the essentially flat performance of the S&P 500 index.
Big in Texas
The first item providing fresh hope for medical weed was its apparently increasing prospects for growth in a major market. A new medical marijuana bill making its way through the Texas legislature had its first committee hearing on Monday after being passed in the state House earlier this month.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »
Image source: Getty Images.
Industry news site Marijuana Moment quoted Texas Senator Charles Perry as saying that the committee was “still having conversations on what the final product is.” This language implies that some form of the proposed law is likely to pass in the state’s upper chamber when put up for a vote.
The bill mandates expanded access to medical marijuana throughout the state. Additionally, it would allow for patients with a wider range of afflictions to gain access to such products, among other measures.
Feeding into this was a survey conducted by Mission Roll Call, a non-profit serving the interests of military veterans. It polled nearly 2,000 veterans on the question of whether the federal government’s Department of Veterans Affairs (VA) should be prescribing medical marijuana to qualifying patients.
Fifty-seven percent of respondents said the VA should provide such a service. Additionally, 27% of those polled said the VA should prescribe treatments of psychedelic drugs, which are currently being tested to treat mental health disorders.
Baby steps?
Although neither development will be a major catalyst for the marijuana sector, they go at least a short distance to making marijuana a legitimate product. This boosts the reputation of the drug and is a small step toward ultimate, de facto legalization in this country.
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 $642,582!* Or when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $829,879!*
Now, it’s worth noting Stock Advisor’s total average return is 975% — a market-crushing outperformance compared to 172% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*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.