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It seems like this year voters from all backgrounds have been rushed to the polls this year. Comfortable politicians have been loosing their seats and visible changes are being seen around the nation. In the mean time, as legalization makes progress in the polls, stocks have been making some progress of their own.
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Voters in Michigan have opted to make their state the next to legalize marijuana. Portions of the new law allowing for licensed businesses to grow, process and sell cannabis to consumers will come online over the next year. The measure directs---state regulators will issue business licenses for cultivators, processors, testing labs, secure transporters, retail outlets and cannabis micro businesses.
EXCERPT FROM TOM ANGELL/FORBES
The economic benefits of legalizing weed have already been apparent as the first states have moved to change their legal positions. Overall, legal marijuana could mean a big push for state economies and big bucks for both the state and the federal governments. Below, we'll explore some of the key economic benefits of legal marijuana.vestopedia on Facebook
You have to wonder if investing in cannabis is legal because on a federal level, things still seem to be up in the air. With more companies going public every day, the still illegal industry is growing rapidly. Score one for the stoners: The pot industry is poised to be gigantic as more states embrace legalization. And, if you want to get in on the ground floor, several advocates say now is the right time to bet big on marijuana.
October was definitely not a good time for stocks in the marijuana industry. But the combination of a broader market correction and a "sell the news" mentality after cannabis became legal in Canada led to dramatic declines. All four stocks ended the month down by roughly a quarter to a third.
However, it can be more informative to look at stock performance over the course of a typical cycle of upward and downward stock movements. Three months is hardly enough to be considered a true market cycle, but it does give a good sense of how abrupt rises and falls of a market often work out in typical corrections.
EXCERPT FROM THE MOTEY FOOL
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The legal U.S. cannabis market is projected to reach more than $20 billion by 2022, according to the “The State of Legal Marijuana Markets, Sixth Edition” (SOLMM6) released by Arcview Market Research in partnership with BDS Analytics. This growth has the potential to generate more than 467,000 full-time equivalent jobs in 2022.
And despite federal prohibition, the SOLMM6 asserted that the U.S. legal cannabis industry experienced 31% growth in 2017. Arcview forecasts that the continuing state-by-state roll-out of medical-use programs and then adult-use legalization will bring a 22% compound annual growth rate to the market over that five-year forecast period.
Excerpt from Yahoo Finance