Marijuana Stocks Fall Despite Cannabis Legalization Winning In Several States

[eppur_se_muova]

BILL PETERS
09:05 AM ET 11/04/2020

Marijuana stocks fell sharply Wednesday, after voters in five states approved cannabis legalization ballot measures but federal elections remained in doubt. On Election Day, U.S. marijuana stocks and Canadian producers on major U.S. exchanges generally fell modestly after spiking higher Monday.

Marijuana Legalization Measures Pass

New Jersey, Arizona, Montana and South Dakota on Tuesday approved ballot measures to legalize recreational marijuana. South Dakotans also backed creating a medical marijuana program for people with severe medical conditions.

Meanwhile, Mississippi voters approved legalizing cannabis for medical use.
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more: https://www.investors.com/news/marijuana-stocks-five-states-vote-on-cannabis-legalization/?src=A00220&yptr=yahoo

[getagrip_already]

1. The cannabis industry is over leveraged and not at all profitable.....

It's all fools (investor) money at this point.

The way the market is set up, it's almost impossible to succeed. There is a lot of money being made selling picks and shovels though. Just not in growing or selling it.

Taxes, legal constraints, employment requirements, security expenses, all make it hard to profit.