Publicado: Jue, Noviembre 08, 2018
Financiera | Por Marilu Caballero

Pot Stocks Surge on Heels of Midterm Election Results

Pot Stocks Surge on Heels of Midterm Election Results

That makes Michigan's household marijuana cultivation law the least strict out of all of the states. The official vote total is 2,285,364 in favor of legalizing recreational marijuana in MI. This legalizes medical marijuana for people with certain qualifying conditions, such as HIV/AIDS, cancer, chronic pain, and multiple sclerosis.

Proposal 1 allows adults aged 21 and older to possess up to 2.5 ounces of marijuana. Some in the industry see federal legalization of medical marijuana as the best path to ending prohibition in the U.S., which has held big banks and institutional investors on the sidelines.

Missouri and Utah became the 31st and 32nd states to approve the medical use of marijuana. Businesses will be issued licenses and cannabis will be subjected to a 10 percent excise tax in addition to a 6 percent state sales tax.

Four states are set to vote Tuesday on whether to legalize marijuana for recreational or medicinal purposes amid growing support for the cannabis industry's entrance into mainstream society.

Michigan's vote Tuesday to become the 10th US state where the recreational use of cannabis is legal is adding more momentum to a trend that some investors now say is inevitable: that marijuana will become legal nationwide within the next 5 years. The former group now includes MI, the first state in the Midwest to allow recreational use, and the latter group now includes Missouri and Utah.

Despite Attorney General Jeff Sessions' ardent attempts to stomp out legal weed, a 2017 Gallup poll showed record-high support for legalizing marijuana from both Democrats and Republicans. "Michigan will be the first state in the Midwest to end marijuana prohibition and replace it with a system in which marijuana is regulated for adult use".

Drew, Cavs agree to contract for rest of season
What's even more interesting is that the Cavaliers as a whole have not performed like they know what they're doing. Of course, this is not entirely bad news for a team that is clearly turning its focus to improving lottery odds.

"Investors believed cannabis stocks were over-valued ahead of legalization, and then the stocks rocketed upward as legalization neared and took effect".

Kristin Schrader, 51, a Democrat from Superior Township in Washtenaw County, said she voted to legalize marijuana because she doesn't want people leaving MI to get it. He says it will ultimately be up to them, but he's hoping to get most to opt out. Amendment two passed. That allows doctors to prescribe medical cannabis to patients.

North Dakota also weighed in a measure that would legalize marijuana use for those over the age of 21, but voters overwhelmingly rejected the proposal by a margin of 59.5% to 40.5%.

"Encouragingly, support for cannabis achieved bipartisan support a year ago and Republican support was up 2 percentage points in 2018 to 53 percent", Azer told CNBC last week. If more than one measure passes, the proposal with the largest affirmative vote will become law.

Just yesterday, Senator Olga Sanchez, Mexican President-elect Andrew Manual Lopez Obrador's choice for interior minister, announced plans to submit a recreational marijuana bill to Congress.

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