This is what Bloomberg got wrong about cannabis legalization…
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With Bloomberg, you won’t hear or see a lot of actionable advice, but if you want to know what’s going on in the investing world at a quick glance then their investing platforms will bring you up to speed.
That’s why I was surprised when I saw this headline – because it doesn’t accurately reflect what is happening in the cannabis world.
Is it fair to say cannabis stocks can have volatile price swings and that the end of federal prohibition is taking longer than most have expected?
It’s fair to say that cannabis stocks are undergoing volatile price swings, and that federal prohibition is taking longer than expected. But it’s certainly not fair, or accurate, to say that legalization efforts are slowing down.
Charles Delvalle, owner of the dispensary chain Hashstoria and a member of the National Institute for Cannabis Investors (NICI) Advisory Board, recently authored a report about a new cannabis reform bill submitted to the U.S. House of Representatives, one that was introduced by a Republican.
You read that right – a Republican representative, Rep. Nancy Mace (R-SC), is currently taking feedback on a bill to legalize cannabis at the federal level.
This is huge. Because until now, only Democrats were seriously pushing for legalization, which can’t succeed without at least some Republican support. This Republican-backed effort gives us a renewed hope for bipartisan cooperation on cannabis legalization, which will be the way to drive this train forward.
In addition to a renewed push at the federal level, there are currently at least four states on my legalization radar that could legalize recreational sales next year, including Ohio, Maryland, Florida, and Pennsylvania. If even one of these states passed recreational legalization, the U.S. will have more states with legal cannabis markets than ever.
Maybe it’s just me, but that doesn’t sound like a wane in legalization efforts.
To keep track of all the states that could join the recreational club – and all of the ways you can profit – I am putting together a 2022 legalization watchlist.
In this series, I’m highlighting each new potential market for 2022, and clueing you into my top picks in each state.
In my first episode, I reviewed profit opportunities in a state where companies are elbowing each other out of the way to secure the strongest foothold in what will be one of the largest cannabis markets on the East Coast.
Here are three companies every cannabis investor should own to make the most money from this breakout state market…
I’ll be sending out the second episode of my state market review series later this week, so keep an eye on your inbox.
To your investing success,
Executive Director, National Institute for Cannabis Investors
P.S. Bitcoin has famously gone up 7.3 million percent since 2010. It turned ordinary people into millionaires – even billionaires. Can history repeat itself? According to this crypto millionaire, it’s about to repeat itself – over and over and over again. Full story here.
November 30 2021