"Let's ride the Green Rush - marijuana stocks"
in the news Let's ride the Green Rush - marijuana stocks? What this all about..... See below.
Sentiment Trader shows its members the new Green rush of stocks, that the big dogs on wall street are starting to turn lick their lips over.
Focus on Legalization
Americans are set to head to the polls, when nine states will vote on the Cannabis initiatives. Public favor, after a decade long embargo, is turning toward the legalization of both medical and recreational marijuana. Gallup polls showed that Americans backing full legalization soared from a meagre 12% in 1969 to 60% in recent times.
In fact, the number of states legalizing marijuana has been rising at a steady pace since 2000. Prior to 2000, three states including California, Oregon and Maine had made medical cannabis legal. But, in the last six years, around 15 states have officially authorized medical marijuana. Also, about 25 states have adopted medical marijuana programs, including the District of Columbia. This year alone, medical marijuana has been legalized in Pennsylvania and Ohio.
Arizona, California, Massachusetts, Maine and Nevada are positioned to vote for the legalization of the drug for recreational purposes. Alaska, Oregon, Colorado and Washington are the ones that already permit recreational marijuana use.
Tax Revenue to Improve
The government will definitely want to legalize marijuana as its sales will boost tax revenues significantly. In states such as Colorado and Washington, the government had collected around $70 million in tax revenue from recreational marijuana sales in 2014, according to Time Magazine and CNN. This is almost twice as much revenues generated from alcohol taxes in such areas, according to ArcView Group.
Financial behemoth, Bank of America Corporation (BAC) had said that the U.S. marijuana market could reach a worth of around $30 billion annually by 2020, almost thrice the yearly revenue of the National Football League.
Extensive Medical Use
Research has also shown that cannabis can cure a wide range of diseases. Some of them include schizophrenia, Type 2 diabetes, post-traumatic stress disorder and even some types of cancer. Cannabis-derived drugs are already approved in the U.K., Germany and Spain.
Multidisciplinary Association for Psychedelic Studies, meantime, is trying to get marijuana approved by the Food and Drug Administration (FDA) for the treatment of post-traumatic stress disorder. In a poll conducted by ABC News in 2010, almost 81% of the Americans believed that medical marijuana should be legalized completely in the U.S.
The legal marijuana industry is already growing at a rapid pace. The industry grew 24% to $5.7 billion last year, which makes it the fastest paced industry in the U.S., according to ArcView Group.
The market research firm added that the industry is expected to grow by $7.1 billion this year. ArcView also said that legal cannabis industry sales will grow more than 200% to $22.8 billion in the next four years.
WHAT LOOKS GOOD!.....
Pepsico, Inc. PEP -- operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers snack foods including Doritos, which has THC the main chemical in marijuana. With pot getting legalized, sales of such products are expected to improve further.
DON'T MISS OUT ON OUR HOTTEST updates Click the link below....