Does the Rejection of Top Marijuana Legalization Measures Mean the Pot Industry Is Done Now?

This past Election Day, all three recreational marijuana legalization ballot initiatives up for a vote failed to pass. That's quite a change from the success similar measures had in past election cycles. Investors sold out of North American weed stocks when the news hit. Clearly, many of them see a dark future ahead for such stocks. Could they be right?Five state marijuana legalization measures were put before the electorate, three of which would have green-lighted recreational pot. As an added bonus, Massachusetts voters were asked for their yea or nay on the legalization of psychedelic substances like psilocybin and mescaline. All three of the recreational proposals failed. Voters in both Dakotas effectively said no, as did the population of Florida. Although nearly 56% of respondents in Florida voted yes for theirs, it fell short of the 60% required for passage in that state. Meanwhile, Massachusetts voters rejected the psychedelics measure.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool