“You’re happy if you’re long the cannabis stocks. He was the biggest roadblock to broadening that out to a national conversation,” said Art Hogan, B. Riley FBR chief market strategist.
Meanwhile, Michiganders chose to authorize the legalization of possession, use and cultivation of cannabis products by those who are at least 21 years old on Tuesday. Individuals will now be permitted to possess and use cannabis and cannabis-infused edibles and grow up to 12 cannabis plants for personal consumption. The approved law will impose a 10-ounce limit for cannabis kept at residences and mandate that amounts over 2.5 ounces be secured in locked containers.
Ten states and the District of Columbia have now approved recreational use of pot.