By Ramone Tarnaski

Given the unprecedented attention in the stock market, which has inspired even anti-materialists to explore naked shorts and consider downloading the Robinhood app, retail investors should remember these absurd valuations - triggering hype cycles that have a long history on /r/wallstreetbet. Irrational hype has been part of the landscape of cannabis investments for decades, with weed companies creating billions of dollars worth of value for absolutely nothing - which must not happen again, because that's what the SEC is for, right? There was a flood of Reddit posts that propelled companies like GME, and there was no shortage of media coverage on social media.

Billions of dollars worth of cannabis were sold last year, Mexico is facing nationwide legalization, Jay-Z has a weed brand, and in the US and Canada, as well as in other countries around the world, cannabis reform is being considered.

Given the progress the industry has made over the past decade, Medbox, Tilray, and many other companies such as Sundial are some of the most promising stocks in the cannabis industry.

When President Joseph R. Biden Jr. was elected in November, we saw a significant change in the US government's approach to legalizing marijuana. What does Joe Biden as president mean for cannabis companies and what does he stand for? Biden did not promise to legalize marijuana during the campaign, nor did he say a word about the reform of the law on controlled substances?

Biden is a Democrat, and there are many Democrats who support marijuana, such as Sen. Bernie Sanders (I-Vt.) and Republican John Conyers (D-Mich.). Biden and Merrick Garland, the former United States attorney general, have been at the forefront of efforts to remove Jeff Sessions and use his position to harass weed companies.

Canadian companies that are not involved in the U.S. market, doing under Joe Biden and Jon Ossoff is how the market will react. Canadian companies with large profits from cannabis, including companies based in Canada, have been under intense scrutiny by the federal government and the U.S. Attorney General. Cannabis shares rose after Raphael Warnock and Jon O'Malley won Democratic control of the U.S. Senate, and the reaction from the markets has increased dramatically.