Benzinga: "3 Reasons Marijuana Stocks Are Soaring"

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Benzinga: "3 Reasons Marijuana Stocks Are Soaring"

Excerpt from Benzinga quoting DataTrek’s Jessica Rabe:

Election Takeaways: On Thursday, DataTrek Research co-founder Jessica Rabe said there are three big-picture takeaways for cannabis stock investors from Tuesday’s election results:

  1. One in three Americans now lives in a state in which recreational marijuana is legal. Not only has the latest vote expanded the number of legal cannabis customers, Rabe said it has also applied significant pressures to neighboring states not to follow suit and not miss out on the business opportunities and tax revenues.
  2. Cannabis legalization is no longer a “blue state” phenomenon given marijuana measures passed easily in the conservative states of South Dakota, Montana and Mississippi. While more than three out of four Democrats support cannabis legalization, recent polls have found that slightly more than half of Republican voters now support it as well.
  3. Even though it appears likely Republicans will maintain control of the Senate, voters in the red states mentioned above are sending a clear message to Washington that cannabis legalization is an increasingly bipartisan, national issue.

“The more states that legalize recreational marijuana — especially populous ones like New Jersey (8.9 million people) and Arizona (7.3 million) this election — the more pressure it puts on the federal government to address the issue,” Rabe said”….

Read the full article here on Benzinga!