Cannabis Prohibition is Ending
With all the turmoil going on right now, a major health crisis has been all but nearly forgotten about — the opioid epidemic.
In 2019, opioids were the leading cause of drug overdose deaths in the U.S. According to the CDC, of the 67,000 people who die of a drug overdose each year, around 70% involve a prescription or illegal opioid.
And cannabis could be one of the keys to the cure.
Newly released data from Columbia University show that states with medical cannabis laws saw a massive drop in opioid prescriptions of about 20%. That’s also a statistically significant result.
Legal prescription opioid use is often a gateway to illicit abuse, so dramatic cutbacks in prescribed opioids is a big deal.
The link between legal medical cannabis and less opioid use is staggering.
Brick by brick, the wall that opponents of legal cannabis have built is crumbling all around them…
Data Points to Legalization
As we talked about, cannabis doesn’t cause more drug use – it actually causes less.
Teens aren’t more likely to use drugs when cannabis is legal. It’s harder for them to get ahold of, in fact.
Legal pot doesn’t create more crime.
In fact, legal cannabis may actually increase property values.
So what else does legalizing pot do?
Well, for starters, it gives states money. A whole lot of money.
Colorado and California have each brought in more than $1 billion in tax revenue since legalizing weed.
And experts estimate that legalization in New York could bring the state $1 billion annually.
Cannabis also creates jobs. Legal cannabis now supports 243,700 full-time-equivalent jobs as of January 2020. And that number is growing.
This comes at a time when the COVID-19 pandemic is bleeding state budgets dry and unemployment is hitting awful new records.
Governors and lawmakers need every cent they can get and every job they can create.
Oh, and cannabis may even help to treat COVID-19 itself.
It’s rare to find an industry with this many incredible drivers behind it. Typically, any one of these factors would be enough to spur dramatic wealth creation – but American politics moves slowly, and markets hate uncertainty.
I’m happy to report that’s changing.
Over the last two months, cannabis stocks have been one of the best-performing corners of the market, as shown in the graph below…
Cannabis investors have endured a trying market environment over the last year and change. But things are very different now.
The legal landscape is on the verge of a major change.
Legal cannabis companies are posting record numbers – and many operators that were in cash-burning growth stages are actually posting huge profits despite the pandemic.
And finally, investors are starting to buy in a major way again.
I think that cannabis stocks could be the best performers for the rest of 2020, especially as economic questions remain unanswered elsewhere in this market.
It’s a great time to be a cannabis investor!
But if you haven’t already invested in cannabis stocks, where do you start?
I’ve targeted four stocks that I think have a shot at giving you back huge gains by the end of 2020.
This year’s election cycle is sure to have more cannabis legalization on the ballots.
To a bright future,