Archives for March 2018

March 2018 - Money Morning - Only the News You Can Profit From

Which State Will Legalize Recreational Marijuana Next?

With recreational marijuana use legal in nine U.S. states, investors want to know: Which state will legalize recreational marijuana next?

Legal medical cannabis has the potential to create a $24.5 billion industry, and investors are closely watching which states are getting close to allowing the same of recreational marijuana.

You see, as states legalize recreational marijuana, cannabis growers will need to ramp up their production, creating more demand for real-estate, growing equipment, and financing.

Strong demand is sure boost the profits any company involved in manufacturing equipment for the marijuana industry - companies developing specialty lighting, indoor growing systems, and land for marijuana cultivation all stand profit.

Two D.C. Developments Look Great for Pot Stocks

As members of Congress burned the midnight oil to pass a $1.3 trillion budget bill by their March 23 deadline, they attached a recurring "rider" that bans the U.S. Department of Justice from using funds to interfere with medical marijuana in states that have legalized it.

U.S. President Donald Trump went on to sign that $1.3 trillion spending measure, which protects medical marijuana businesses through at least Sept. 30. And this time he didn't include a signing statement reserving his right to ignore that rider, which he did last May.

In other words, we just got another "green light" from Washington.

Now, this isn't exactly a slam dunk for the industry: Some lawmakers wanted to extend these protections to cover recreational marijuana as well, but the U.S. House Rules Committee blocked that effort along a party-line vote on March 21.

Still, these moves by federal lawmakers give you a sense of their seriousness here...