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Cannabis stocks have been taking a shellacking since marijuana went fully legal on Oct. 17.
And that was to be expected.
Those stocks made a huge amount of gains leading up to that big day, and investors are taking them.
So I hope you're doing some of that yourself – and loving it.
But this doesn't mean the once-in-a-lifetime opportunity that legal cannabis represents is over.
Far from it.
I can see more catalysts for pot stocks lining up for, basically, as far as I can see.
First up: Nov. 6, Election Day.
That's when voters in four states will cast their ballots on new cannabis legalization measures that will allow millions more Americans to purchase legal weed of the recreational and/or medical variety.
And that will bolster the bottom line of the best cannabis firms.
Which will, in turn, lead to higher share prices.
After all, as we always say around here when it comes to legal cannabis: When laws pass, stocks soar.
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It's our mantra.
Now let's recall exactly what happens when laws pass.
Six years ago, Colorado and Washington became the first states in the nation to legalize recreational cannabis sales.
Since then, seven more states and Washington, D.C., followed. And along the way, 30 states in total have legalized medical cannabis.
And 64 cannabis stocks have soared past 1,000% gains. Dozens more beyond that have reached triple-digit gains.
Meanwhile, many more states – including big ones like New Jersey, New York, and Pennsylvania – are considering recreational legalization via statehouse legislation.
After that, more voters will go to the polls and decide on legalization in 2020… and 2022… and, well, you get the picture.
Or maybe not.
About the Author
Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.