Start the conversation
Comment on This Story
Or to contact Money Morning Customer Service, click here.
We've seen time and again that you don't necessarily need a fully legalized cannabis market to take down big profits... but the profits are undeniably bigger when medical and recreational marijuana are both on the table.
Medical marijuana is legal in the vast majority of U.S. states, but full legalization - I mean medical and recreational cannabis usage - is a fact in 18 states, and another nine districts, tribal nations, and territories.
I think Pennsylvania is going to be the next state to open its arms and embrace a recreational, adult-use cannabis policy.
Now, Pennsylvania was already one of the hottest up-and-coming medical cannabis markets in the country; Keystone State cannabis users will have generated $1 billion in sales by the end of this year.
And at least some lawmakers are listening; a bipartisan legalization bill is working its way through the state legislature.
Forward-looking voters and lawmakers see what you and I do: increased tax revenues for schools and infrastructure, easing the burden on the justice system, a huge economic boost, and sky-high profit potential.
They see what's happened in places like Illinois and Michigan, where revenue tripled and quadrupled after passing recreational use laws. Starting at $1 billion, Pennsylvania could see medical and recreational sales hit $3 billion before long. State tax coffers will realize a big boost.
Know what else I see? Four companies that are uniquely positioned to either enter the Pennsylvania market at a 45-degree angle or leverage their current presence in the Keystone State to pull far ahead of the market.
These are all very inexpensive stocks right now, and I'm going to name all four in this five-minute video...
I don't think the author is from PA. The PA legislature is not going to legalize cannabis anytime soon. They are a Republican majority legislature. one of the most reactionary in the U.S. The philly vote is meaningless. cannabis is already decriminalized here in philly. The legislature hates philly – they starve the schools of funding on a regular basis. The legislature is also one of the most corrupt. The republicans grabbed the phila parking authority at 4 AM one night awhile ago – it is now and always was just a corrupt vehicle for lining politicians pockets.
the only way rec. cannabis is legalized here in PA is when the legislature gets jealous of the profits of pa residents buying in NY and N.J ( which hasn't even gone on sale yet) or if recreational goes on the ballot. Even the medical marijuana is very restrictive here. you can't just look at a map and predict where recreational is going next.