Alan Brochstein, author of 420 Investor and founding partner of New Cannabis Ventures, says the recent political momentum behind the cannabis legalization push in the US — and the resulting rebound in cannabis stocks since the U.S. election — has him feeling extremely optimistic about the industry's future.

“Almost eight years into this, this is the most excited I’ve ever been," Brochstein said on Benzinga’s PreMarket Prep Thursday morning. "I can finally wear my CFA hat proudly and say Moses has led his tribe to the promised land.”

Related Link: 3 Reasons Marijuana Stocks Are Soaring

There have been many periods of cannabis stock outperformance in the past that ultimately led to disappointment for investors.

This time the circumstances are different, Brochstein explained.

“When I showed up in 2014, it was the Wild West. This was just a theme, and the public companies were total crap on the OTC. No money, no real business,” he said.

In 2018, that tide shifted where major U.S. cannabis companies started trading on public markets.

“There was a lot of excitement in 2018 when California legalized, but like many of these implementations, it didn’t go very well. We went through the vaping crisis in 2019 and the pandemic this year,” he added.

Times Have Changed: According to Brochstein, the cannabis story has changed dramatically since the March lows.

“What’s happened has been nothing but positive. The demand side has been exceptional, the pandemic itself has led to people having extra time and money on their hands and a lot of anxiety. That’s a good combo for cannabis,” he said.

The expansion of delivery and curbside pickup options has also helped the cannabis industry. Brochstein said the U.S. election was another major catalyst.

“Cannabis won the election. They’re still trying to figure out who’s going to control the Senate, obviously. But clearly these ballot initiatives, especially in the key states of New Jersey and Arizona where there are a lot of publicly traded companies already operating, are just huge,” he said.

How To Play It: One way for investors to gain diversified exposure to the U.S. cannabis space is the AdvisorShares Pure US Cannabis ETF MSOS. Because they do not trade on a major exchange, such as the Nasdaq or the NYSE, most OTC-listed U.S. cannabis companies aren't available on trading platforms such as Robinhood.

“On Robinhood, you can’t buy American cannabis companies. MSOS is on Robinhood...Long story short, MSOS is a way to allow people who can’t navigate the current system to get in,” Brochstein said.

Watch to the full interview with Alan in the clip below, or listen to the podcast here

PreMarket Prep is a daily trading show hosted by prop trader Dennis Dick and former floor trader Joel Elconin. You can watch PreMarket Prep live every day from 8-9 a.m. ET Benzinga's YouTube channel, and the podcast is on Spotify, iTunes, Google Play, Soundcloud, Stitcher and Tunein.