Whatever the outcome of the US presidential election, an increasing proportion of the country will be able to use marijuana, or herb, on a perfectly legal basis on a daily basis.
Namely, this week in the US, both Arizona and New Jersey have decided to legalize marijuana for daily recreational consumption. In other words, it will be able to be consumed in the same way as alcohol or tobacco.
In any case, in the distant future, it may not be the case that the store sells “entertainment or relaxation packages” – for example, a bottle of whiskey plus a couple of marijuana products. Available information suggests that the herb is already legal in 11 U.S. states, where Colorado and Washington were the first to legalize the substance. For example, the New Jersey authorities estimate that such legalization of marijuana will allow the state to generate additional tax revenue of $ 126 million.
Bloomberg points out that the legalization of marijuana for everyday use on the stage in several states has helped allay concerns about budget deficits, which in many states, respectively, have plummeted due to sudden pandemic spending. At times like these, even a small amount of revenue from the legalization of marijuana sales looks attractive.
“Instead of spending money, we will create money. And instead of arresting people, we will create jobs,” adds the management of the New Jersey CannaBusiness Association. It is also pointed out that the license to sell marijuana could also be obtained by the representatives of the “black market”, who may know more about this market than anyone else.
In any case, some businesses thrive even in times of crisis. Data compiled by Cowen & Co this spring showed that, for example, in the United States, marijuana use has reached an all-time high as people spend more time at home and spend more free time. In recent years, North America has been hit by a boom in the popularity of marijuana funds. It should be noted, however, that many companies in this industry are quite small and risky. At the same time, many people, hoping for the miraculous growth of this industry, had bought up the securities of such companies at a high cost. For some time, this train also drove forward quite powerfully, which allowed investors in the shares of such companies to make generous profits. However, at the beginning of last year, it hit the brakes quite hard, and the price of securities of many companies in this sector soared (the bubble burst). For example, the largest share of the ETFMG Alternative Harvest ETF in this background has fallen by about 70% in a year and a half, which is quite a bit.
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