Analysis originally distributed on November 10, 2016 By: Michael Vodicka of Cannabis Stock Trades
The results are in. November 8, 2016 will go down in history as a great day for the legal cannabis industry and the world.
Nine U.S. states had medical and recreational marijuana programs on the ballot. From those nine states, eight have voted yes.
On the recreational side, four out of five states have approved new initiatives.
- California: passed
- Massachusetts: passed
- Nevada: passed
- Maine: passed
- Arizona: failed
As you can see this list includes California, the world’s largest marijuana market.
On the medical side, all four states voted yes.
- Florida: passed
- Arkansas: passed
- Nevada: passed
- North Dakota: passed
- Montana: passed
Florida looked like a huge baller this election cycle.
Not only did it virtually decide the presidential election as a key swing state, it also decided to throw another log on the fire and legalized medical marijuana for good measure.
These results mark a watershed moment for the legal cannabis industry. I expect these additional legalizations to serve as a huge catalyst for the industry.
On January 1, 2017, 29 states, more than half the country, will have medical and recreational programs in place.
That will create new jobs, increase tax revenue and decrease crime.
I also expect it to be a powerful catalyst for marijuana stocks. Continue reading "Cannabis Industry Bats 88% As 8 Out Of 9 States Vote Yes"
