To say the least, Nov. 6 – Election Day – will be significant.
There are many important issues at stake: the economy, healthcare, national defense, immigration…
But the stakes may be highest for cannabis stock enthusiasts.
That's because voters in several states will decide on the fate of legalization ballot measures.
Polling thus far indicates that voters will say "yes" to all of these legalization measures. If the polls are accurate, that's going to mean a happy election season for the firms best positioned to take advantage of soaring sales and profits, thanks to potentially millions of new customers.
And because "When laws pass, stocks soar," it will also be a happy day for pot stock investors.
Now, I know what you might be thinking: What's having four more legalized states going to mean for this huge global industry?
After all, 30 states have already legalized medical cannabis, and nine states and Washington, D.C., also have legalized recreational cannabis.
Even former Speaker of the House John Boehner has said he suspects we won't have to wait more than five years to see the federal government legalize cannabis.
This year alone, California and Canada went fully legal.
But I'm here to tell you that there's actually a lot on the line.
A whole lot.
Here's the thing…
With nearly 300,000 registered patients and more than $600 million in annual sales, one of the four states voting next Tuesday is already the No. 2 medical marijuana market in the nation.
Only California's market is bigger.
And full legalization would likely turn it into the No. 2 market overall – with $2 billion in annual sales – overnight.
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That represents a wave of profits you can't ignore…
The Under-the-Radar State to Watch
I started out my career as an auto industry analyst. I sat face-to-face with legendary Chrysler CEO Lee Iacocca to talk about the rise of automation in his factories.
So I have a lot of fond memories of the place.
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.