What a View!
Twenty-three states and the District of Columbia already have passed laws allowing medical marijuana in some form, beginning with California in 1996. In the coming months, Florida may become the 24th state to legalize medical marijuana.
The coming election represents a major catalyst for the marijuana stock market. With three states, Oregon, Alaska and the District of Columbia, voting on legalizing marijuana for recreational use, companies that operate in those states are poised to generate increased revenue.
In Colorado, sales from recreational marijuana surpassed medical sales for the first time in July 2014. The sale of recreational marijuana has show significant growth since January and doubled in only seven months.
Washington State has seen the total revenue generated from recreational marijuana double month over month. During July, Washington State generated $3.2 million in revenue. During August they generated $7 million. We expect to see these numbers increase due to the state not even operating at maximum capacity due to government regulations.
STATES PENDING LEGALIZATION MARKET POTENTIAL
OREGON- voting on legalizing marijuana for recreational use
- 6 Million people over the age of 25
- 270,000 people said they consumed marijuana within the last month
FLORIDA voting on legalizing medical marijuana
- 5 million people over the age of 25
- 635,000 people said they consumed marijuana within the last month
ALASKA voting on legalizing marijuana for recreational use
- 465,000 people over the age of 25
- 50,000 people said they consumed marijuana within the last month
WASHINGTON DC voting on legalizing marijuana for recreational use
- 440,000 people over the age of 25
- 31,000 people said they consumed marijuana within the last month
