Election Day 2018 marked another resounding victory for cannabis.
At least 36 different ballot measures and elective offices across the country were in play.
From coast to coast, candidates from both parties who are on the record as favoring some form of marijuana reform were returned to office or swept into congressional delegations, state houses, and local assemblies. These are the folks who can help move reform efforts along all over the country.
More importantly, voters in each of the three states with the most important legalization efforts (all three of which were carried by the Trump campaign in 2016, by the way) passed their referendum questions.
This isn't really a surprise – we knew going into Nov. 6 that 66% of Americans favor the legalization of cannabis for recreational use, and more than 90% want it to be legal for medical application.
Still, the results are big news for cannabis investors – and a flashing green light to folks who may yet be sitting cautiously on the sidelines.
That's because there are major benefits to adding one of the largest states by adult population, and one of the reddest "red states" to the pro-cannabis bandwagon.
Let's take a look…
About the Author
Greg Miller started working on Wall Street in September, 1987, just a month before the “Black Monday” stock market crash.
During his career there, he became an expert in just about every kind of publicly traded security - from blue-chip and small-cap stocks to municipals, junk bonds, and derivatives. As a portfolio manager, Greg was responsible for over $500 million of assets in mutual funds and insurance company accounts.
After leaving the Street, he designed a successful options trading strategy and made lucrative tech investments for a financial publication. He has also helped develop new products and worked with other editors to hone their strategies. He’s always been dedicated to deep, fundamental research - and he always will be - because he believes buying the very best companies at the right price is the best way to amass wealth in the stock market.