One Step Closer to Marijuana Legalization

More momentum in the legalized marijuana sector … another mainstream company embraces bitcoin … get ready for flying taxis

Lots happening in the news. So, in today’s Digest, let’s bounce around to a handful of stories affecting your portfolio.

***COVID-19 vaccinations are slated to begin today, marking an historic turning point in the coronavirus battle

Pfizer began shipping its vaccine last night. Roughly 145 U.S. hospitals are in line to receive doses today, with 425 more tomorrow and another 66 on Wednesday.

Pfizer expects 25 million doses will be available by the end of the month. We’re also looking for the Moderna vaccine to be approved later this week, which would push that number even higher.

Overall, expectations are for 100 million Americans, or nearly a third of our country, to be immunized by February or March. The hope is we’d see a general public inoculation by summer.

As to the investment implications of this, as we’ve noted here in the Digest, this hardly means the “work-from-home” trade is done. But it does mean it’s time to begin looking at those stocks that will roar as the economy reopens.

Our thematic expert, Matt McCall, calls this “the proximity trade.”

Here he is to explain:

The proximity trade means buying high-quality businesses that got hammered because of distancing but can thrive as we start getting back…

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