The cannabis industry is the one clear winner of the 2020 election. No need for a recount, voters clearly support cannabis propositions across the United States.
Five states brought cannabis measures to the ballot box on November 3, 2020, including Arizona, Mississippi, Montana, New Jersey, and South Dakota.
Voters in these states came out in droves to show support for medical and recreational cannabis measures.
These new measures could light the fuse for another cannabis industry explosion in the U.S., both delighting and rewarding investors.
The Votes Are In
- South Dakota just upended their state’s policies, approving both medical and recreational cannabis at the same time.
- After years of failed attempts, voters in New Jersey approved the legal use of recreational marijuana. According to The Associated Press, the public approved by a wide margin. New Jersey will be one of the largest cannabis markets in the country once the new regulations go into effect.
- A yes vote on Arizona’s Proposition 207 will allow adults to possess and use recreational marijuana in 2021. With approximately 60% approval, recreational cannabis will join the state’s thriving medical program.
- Montana voters brought two initiatives to the booth. Initiative 190 gauged support for legal cannabis, and the second, Initiative 118, set the legal age for marijuana at 21. Both of these initiatives earned support from voters.
- Voters in Mississippi also showed their enthusiastic support for a medical cannabis program, with approval to both allow medical marijuana and to establish a medical marijuana program.
How To Capitalize on Changing Regulations
The Marijuana Business Factbook, a leading industry think tank, predicted that cannabis sales would grow to $15 billion in 2020. In addition, Marijuana Business Factbook also predicts that total U.S. sales could hit $37 billion by 2024.
Source: Marijuana Business Factbook
However, despite the bullish growth projection and election day support, there is a problem – only certain companies are positioned to thrive on the legal changes.
An exclusive group of early industry leaders has been working quietly behind the scenes to dominate these breakout markets. These are the stocks that cannabis investors should be looking at!
It’s not obvious which companies are set for success – finding these gems takes years of experience and hundreds of hours of research.
I have spent years researching and investing in the cannabis industry for my wealth management clients. This includes finding undervalued stocks riding below the radar and spotting red flags for the companies hogging the headlines.
I’ll share this analysis (at no charge) in this weekly newsletter from Cannabis Stock Trades.
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2021 is going to be a big year for the cannabis sector. Trust me, you won’t want to watch it from the sidelines.
Editor, Cannabis Stock Trades