Big news out of Florida!
Republican Gov. Ron DeSantis quietly signed a bill making it legal for medical patients to smoke pot.
It’s big news for America’s third most populous state.
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Back in 2016, 71% of Floridians voted to legalize medical marijuana through a constitutional amendment.
Yet the state legislature and previous governor wanted cannabis banned in smokable forms. And they had their way with the final law.
That meant cannabis could only be consumed in pills, oils, edibles and using vaporizers.
Yesterday’s law legalizes the smoking of cannabis. And it allows dispensaries to begin creating and selling smokable products.
American cannabis companies with dispensaries in Florida rose on the news. The expanded legal use of cannabis could result in increased sales.
Shares of Trulieve Cannabis (OTC: TCNNF) rose 5.1% and Curaleaf Holdings (OTC: CURLF) jumped 11.7%.
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Florida cannabis companies have been lobbying for an unobstructed medical marijuana program.
Plus, The Miami Herald reports that companies and their executives made a total of $2.5 million in political contributions since 2016.
The biggest contributor was Surterra, with donations totaling $1.1 million. That company is led by the heir to the Wrigley family fortune. Curaleaf and Trulieve each donated approximately $500,000.
The Florida market for recreational cannabis is expanding. And history tells us that this will be followed by a recreational adult-use market within the next two to three years.
New Jersey Close to Legalizing Adult Use
New Jersey was also in the news yesterday.
Two state legislature committees APPROVED a new cannabis bill.
The bill would legalize the possession and personal use of marijuana for adults who are at least 21 years old. Plus, people with low-level cannabis convictions will have those charges cleared from their records.
The full legislature will vote on March 25.
Sources in New Jersey say the Assembly and Senate still need a couple more votes to pass the bill.
I’ll be watching the news from New Jersey next week. This could be major news and will open up a brand-new market.
Legalization continues to sweep across America – one state at a time.
Pot stocks remain one of my favorite sectors in 2019.
And I’m expecting huge profits from these top three stocks.
Frankly, the gains are bigger than anything I’ve ever seen before.
My price targets were just announced . . . and they’re huge. I’m talking about 1,053%, 2,977% and even 4,235%.
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Yours in Profits,
Full Disclosure: Ian Wyatt currently owns shares of Curaleaf.
Big news out of Florida!