Calendar pages are rapidly falling away to November 3. And regardless of the presidential election's outcome, one of the biggest winners that night could be a recession-resistant industry on the rebound. American cannabis multistate operators (MSOs) have already enjoyed a sizable bounce from their early 2020 lows... The U.S. Marijuana Index is up 156.5% from its March 18 bottom. And this could merely be the first leg higher of a much larger rally. Over the next couple of months, the U.S. cannabis market will be on the cusp of getting even bigger. And this November, election night results could send shares of American pot stocks into overdrive. The Race to $80 BillionIn 2012, there were just two adult-use (or recreational) marijuana markets and 12 medical markets in the U.S. Today, there are a dozen adult-use markets and more than three dozen medical ones. And despite the pandemic, business is booming. Adult-use sales in the country are projected to top $10 billion this year. And medical sales are forecast to be as much as $7 billion. By 2024, U.S. cannabis sales are already forecast to top $37 billion. That's fantastic growth in the face of one of the most disruptive global events in decades. And to support this, Jushi Holdings (OTC: JUSHF) co-President Erich Mauff recently outlined his company's record results. But this November, five more states have legalization measures on the ballot. Arizona, Montana and New Jersey will be voting on adult-use while Mississippi will be voting on medical. South Dakota will be voting on both. Plus, Pennsylvania Governor Tom Wolf wants the state legislature to legalize adult-use in the face of a budget shortfall. This is likely to be repeated again and again in the coming months as the pandemic ravages businesses. |
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