Be prepared for a wild ride if you invest in marijuana stocks
No matter who wins on Election Day, cannabis will have a big day at the ballot box.
Five states — Arizona, California, Maine, Massachusetts and Nevada — have initiatives to legalize marijuana for adult recreational use. Four states — Arkansas, Florida, Montana and North Dakota — have proposed legalizing marijuana for medical purposes. All of the recreational use initiatives are currently ahead in the polls.
They will not be alone. Twenty-five states and the District of Columbia have legalized the possession and distribution of marijuana for medical purposes, and four states — Washington, Oregon, Alaska and Colorado — have legalized adult recreational use. (See map below.)
Legal marijuana sales are projected to reach $20.6 billion by 2020 from $7.4 billion now, with a compound annual growth rate of 29 percent, according to New Frontier Data, a Washington, D.C., cannabis research firm.
If November's...
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