Virginia is one of the most conservative states in the nation when it comes to recreational products. The state has a highly restrictive medical cannabis program and licenses for only five dispensaries in the entire state.
Virginia's alcohol laws are almost as strict.
There are no bars in Virginia – full-service restaurants can sell alcohol, but a dedicated wine bar is prohibited. Every liquor store in the state is owned by the government, and hard alcohol sales are banned entirely in 10 of Virginia's counties.
So it would be understandable if you don't consider Virginia a viable candidate to legalize recreational cannabis anytime soon.
But Virginia might just have a shocking surprise in store. There's a movement afoot to legalize adult-use cannabis sooner rather than later. That's right – there's even a summit hearing scheduled this week to discuss next steps, which means they're backing up the talk with action.
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.