Recreational cannabis investing is all about the regulatory map that determines how many people can buy your favorite company’s products. That map turned a lot greener this week.
Illinois just added 12 million people to the recreational map, or potentially 1.3 million cannabis consumers. And counting Canada, that brings the total “addressable market” of likely retail buyers to about 13 million.
The market just swelled by 10 percent. That’s a big deal for those of us who were concerned that the supply of dried plant matter had ramped up to the point where it overwhelmed demand.
The governor of Illinois thinks cannabis will generate $170 million in taxes this year alone. That’s huge. No wonder he’s happy to sign the deregulation bill into state law.
All we need now is for Wall Street to follow the money.
Nobody wants to follow a broken game plan. That’s why it’s worth reviewing the accuracy of your own market forecasts as well as everyone else’s predictions from time to time.And the start of a new year presents the perfect opportunity to calibrate our sense of where Wall Street is headed. I’m pleased to say that we got 2019 right, despite a lot of noise pushing investors in the wrong direction.
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