Pot Market Breaks Huge Ground in Illinois
I have some great news for the legal marijuana space.
And that means big new pot profit opportunities for you!
It’s good news for pot market players…
Because it’s been a tough month or so for pot stocks.
Even though trade war threats pose zero risk to the North American pot market, the reality is stocks often move in lockstep with each other — even when there’s no reason for them to do so.
Illinois Governor Signs New Pot Bill
A few weeks back we broke the news lawmakers in Illinois had approved a bill that would allow the state’s 55 licensed medical pot dispensaries to apply for licenses to sell recreational marijuana.
This week Gov. J.B. Pritzker signed a new bill legalizing adult-use recreational cannabis as soon as Jan. 1 for Illinois residents over 21 years old.
What’s notable is Illinois is the first state to approve recreational cannabis via its legislature, not via a ballot measure…
Historically, the legislative path to pot legalization has proven less effective because, frankly, politicians are unlikely to do anything that might jeopardize their ability to get reelected.
And since pot has been a controversial issue, many state reps have been too chicken to touch it.
Instead, they’ve foisted that responsibility on voters.
The fact that Illinois’ House and Senate managed to get the bill passed signals that sentiment is shifting among the political crowd. That’s a big deal.
Illinois is a significant market.
Chicago is the third-largest city in the U.S. — and come Jan. 1, it’ll be the second-largest city in the country that allows recreational pot.
Meanwhile, the Market Remains Volatile
That’s a great example of the sort of disconnect that sometimes exists in the legal pot market.
Very often, we see extended periods when weed stocks get dislocated from the real progress made in the actual businesses around the country.
That’s not a bad thing — it’s an opportunity!
After all, these dislocations can’t last forever. As investors, our biggest buying opportunities come when the market is temporarily failing to recognize value in a company.
So far, we’ve been selective about the names we’ve added to the portfolio in 2019. And that patience has paid off overall.
But at this point, I think that we’re coming up on a long-term opportunity this summer to pick up some shares of beaten-down pot stocks that I’ve had on my radar for a while now.
This recent correction in the legal cannabis market has been squeezing quite a bit of risk out of these stocks.
For Technology Profits Daily,
Chief Technology Expert, Technology Profits Daily