Cannabis Stocks Go Bonkers As 2020 U.S. Election Brings Massive Green Wave

  • The 2020 U.S. Election Saw 5 New States Approve Marijuana Legalization Measures, Which New Frontier Data Expects Could Grow the Size of the Cannabis Industry By an Estimated $9 Billion
  • Despite Some Lingering Uncertainty Surrounding the Race for the Presidency, Cannabis Investors Arguably Walked Away From This Year’s Election as the Biggest Winners, as Evidenced By U.S. and Canadian Pot Stocks’ Week of Blistering Gains

Just when we thought this year couldn’t get any crazier, enter the 2020 U.S. Election, specifically the race for the Presidency between President Donald Trump and former Vice President Joe Biden. As I’m certain you’re already aware, the controversial race for POTUS is technically still ongoing as vote counting continues and recounts and lawsuits loom. With state legislatures yet to certify and eventually cast their state’s electoral college votes, uncertainty remains regarding who will be officially crowned America’s next commander-in-chief. Depending on which side of the aisle you fall on, some may disagree, considering most of the mainstream media has called the race for Biden. Still, with all biases removed, we should all remember that the media’s election calls have no legal basis, but as things currently sit, Biden holds the advantage.

Regardless of who the winner ultimately is, the situation has become incredibly polarizing, further dividing an already fractured nation. Because we’re not a political website or American, we’re impartial, and we’ll leave it at that. Our focus is not on a “Blue Wave” or “Red wave,” but, instead, we’ll be taking a closer look at the 2020 Election’s biggest winner, the cannabis industry, its investors and the massive “Green Wave.”

Amidst all the election chaos, the legal marijuana industry scored major victories as voters in Arizona, New Jersey, Mississippi, Montana and South Dakota all approved new medical or adult-use legalization measures.

New Frontier Data, the leader in cannabis market research and analytics projects, the newly legalized U.S. state markets, could add as much as $9 billion to the American marijuana industry’s overall value.

With all five cannabis measures on the 2020 ballot passing in a clean sweep, “71% of Americans now live in a state with either legal adult-use or medical-use programs, and only 29% live in states with no legal market,” according to New Frontier Data.

Giadha DeCarcer, CEO of New Frontier Data, before the election, stated:

“The 2020 election could be one of the most consequential and historical events to change the landscape of the legal U.S cannabis industry. With $9 billion in new revenue from 2022-2025, should all five states ballot measures pass, New Frontier Data estimates that revenues from all legal U.S. markets will reach $35.1B in 2025.”

1 2 3 4
View single page >> |

I have NOT been compensated for this article and hold NO positions in any of the companies mentioned.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Weed Investor 2 months ago Member's comment

Good read, thanks.