Marijuana Stocks and Hemp Stocks History
The marijuana stock didn’t just pop up out of the blues on a sunny summer money to be on the largest trading market, No! It had to pass through fierce test and battle strong foes before it could break out. As an investor in the marijuana stock, it is pertinent you know about it, and its our responsibility to see that you actually do.
To all new investors who don’t know, cannabis investment is the “new thing” and the “in thing”, raking in billions in income and investment. A market that is forecasted by Arcview Market Research and BDS Analytics to grow, not by 50%, or by 100% but by 230% in global spending reaching the sum of $32 billion in the year 2020 as opposed to its inception in 2007 with a meagre $9.5 billion.
In the diagram above supplied by Arcview Market Research and BOS Analytics, we can clearly see the growth rate of the stock and its massive turnover. Just a year after inception in the U.S, there was massive general spending jumping to 71.49% and this was still when it was going through some regulation uncertainty.
We’ve got you riled up and ready to invest right? Then it won’t be a bother to you, if we ask you to sit a bit and hold on to those purses of yours waiting to dib into marijuana stocks, so we tell you few things to help you along the way.
What is Marijuana Regulation?
Marijuana regulation is the law or administrative rule, issued by the state and is used to guide or prescribe the sale, purchase and use of marijuana in the state.
Marijuana regulation is still quite skeptical in the U.S, nonetheless it is moving closer and closer to legalization due to states voting for it’s usage to be legal in various forms, be it recreational or medical.
Unlike in Canada where legalization of cannabis has been implemented since October 17, 2018 in regards to sales and purchase, marijuana in the States is still classified as illegal and remains a Schedule I drug under Controlled Substances Act at the United States Federal level.
Key States that voted for its legalization
- Oklahoma: Oklahoma city became the 30th state in the country to legalize marijuana for medical use on June 26, 2018.
- Utah: The state of Utah during the midterm elections held November 6, 2018, also voted to legalize marijuana under the Proposition Act Two, which only legalizes marijuana for medical purposes only.
- Missouri: Missouri also during the mid term elections also took to Lropsition Act Two for the legalization of Marijuana for strictly medical purposes, it also has a clause for patients to cultivate the plants at home, but not for recreational purposes.
- Michigan: In Michigan, the Proposal Act One was approved, which saw the legalization of marijuana for recreational purposes and cultivation for people above the age of 21, it also approved the sales of marijuana at registered amd licensed retail stores and outlets.
All in all, the regulation state would determinedly be a decisive factor in the state of the industry now that many companies are riding on the sales of it to rake in billions of income due to