- The 2020 U.S. Election Saw 5 New States Approve Marijuana Legalization Measures, Which New Frontier Data Expects Could Grow the Size of the Cannabis Industry By an Estimated $9 Billion
- Despite Some Lingering Uncertainty Surrounding the Race for the Presidency, Cannabis Investors Arguably Walked Away From This Year’s Election as the Biggest Winners, as Evidenced By U.S. and Canadian Pot Stocks’ Week of Blistering Gains
Just when we thought this year couldn’t get any crazier, enter the 2020 U.S. Election, specifically the race for the Presidency between President Donald Trump and former Vice President Joe Biden. As I’m certain you’re already aware, the controversial race for POTUS is technically still ongoing as vote counting continues and recounts and lawsuits loom. With state legislatures yet to certify and eventually cast their state’s electoral college votes, uncertainty remains regarding who will be officially crowned America’s next commander-in-chief. Depending on which side of the aisle you fall on, some may disagree, considering most of the mainstream media has called the race for Biden. Still, with all biases removed, we should all remember that the media’s election calls have no legal basis, but as things currently sit, Biden holds the advantage.
Regardless of who the winner ultimately is, the situation has become incredibly polarizing, further dividing an already fractured nation. Because we’re not a political website or American, we’re impartial, and we’ll leave it at that. Our focus is not on a “Blue Wave” or “Red wave,” but, instead, we’ll be taking a closer look at the 2020 Election’s biggest winner, the cannabis industry, its investors and the massive “Green Wave.”
Amidst all the election chaos, the legal marijuana industry scored major victories as voters in Arizona, New Jersey, Mississippi, Montana and South Dakota all approved new medical or adult-use legalization measures.
New Frontier Data, the leader in cannabis market research and analytics projects, the newly legalized U.S. state markets, could add as much as $9 billion to the American marijuana industry’s overall value.
With all five cannabis measures on the 2020 ballot passing in a clean sweep, “71% of Americans now live in a state with either legal adult-use or medical-use programs, and only 29% live in states with no legal market,” according to New Frontier Data.
Giadha DeCarcer, CEO of New Frontier Data, before the election, stated:
“The 2020 election could be one of the most consequential and historical events to change the landscape of the legal U.S cannabis industry. With $9 billion in new revenue from 2022-2025, should all five states ballot measures pass, New Frontier Data estimates that revenues from all legal U.S. markets will reach $35.1B in 2025.”
Source: Shutterstock
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Arizona‘s Prop 207 was approved by voters, effectively legalizing the sale and possession of cannabis for adult-use. Arizonians 21 and older will be allowed to possess up to one ounce of marijuana flower, five grams of cannabis concentrate and up to six plants at home.
“[The] passage of prop 207 will significantly expand fully legal markets across the western states, creating a land bridge from WA through OR, CA, NV, AZ, and to CO,” explained New Frontier Data in its Arizona cannabis report.
New Jersey scored a major victory on election night as residents voted to legalize recreational cannabis for adults 21 and older, approving the state’s Question 1, Marijuana Legalization Amendment. The measure also approved the cultivation, processing, and sale of retail marijuana, with the new constitutional amendments set to go into effect on January 1, 2021.
“With an estimated 1 million cannabis consumers in the state, and heavy tourism potential in nearby cities such as New York City and Philadelphia, New Frontier Data estimates that by year four of an operational market, annual sales of legal adult-use cannabis in NJ could reach $1.8 billion,” wrote the market data firm.
Mississippi voters approved Mississippi Initiative 65, allowing medical marijuana to be recommended for patients with one of the 22 specified qualifying conditions, including cancer, epilepsy, PTSD, Parkinson’s disease, multiple sclerosis and muscular dystrophy.
With roughly 263,000 marijuana consumers in Mississippi, New Frontier Data estimates that “by year four of an operational market, annual sales of legal, medical cannabis could reach $66 million.”
Montana I-190, Marijuana Legalization and Tax Initiative, was also approved legalizing recreational cannabis for adults 21 and older in addition to allowing citizens up to four marijuana plants and four seedlings at home.
“With an estimated 194,239 cannabis consumers in the state,” New Frontier Data estimates that “by year four of market operation, annual sales of legal adult-use cannabis could reach $175 million.”
South Dakota passed the Constitutional Amendment A, Marijuana Legalization Initiative, legalizing recreational cannabis for adults 21 years and older while also allowing for the possession and distribution of up to one ounce of cannabis and up to three cannabis plants per private residence if located in jurisdictions with no licensed retail outlets.
“With an estimated 97,429 current cannabis consumers in the state, New Frontier Data estimates that by year four of an operational market, annual sales of legal adult-use cannabis in South Dakota will exceed $122 million,” wrote New Frontier Data.
Following the historic green wave on election night, new investment dollars began flooding the cannabis sector on Wednesday, substantially lifting Pot Stocks across the board and igniting a massive week-long rally. U.S. and Canadian Cannabis Stocks continued accelerating on Thursday and exploded higher on Friday, closing the week on a high note.
This extremely bullish price action could signal that Canadian Marijuana Stocks have now joined American cannabis equities in a new bull market. Here are some of the top-performing pot stocks of election week to recap the year’s best multi-day rally.
Weekly Top Gainers | Cannabis ETFs
Horizons Marijuana Life Sciences ETF (TSX: HMMJ)
- Nov. 2/20 Open: $5.99
- Weekly High: $8.12
- Max Gain: +35.56%
Learn more about HMMJ: Website | Benchmark | Holdings | HMMJ Chart
Horizons U.S. Marijuana Index ETF (NEO: HMUS)
- Nov. 2/20 Open: $17.60
- Weekly High: $20.19
- Max Gain: +14.72%
Learn more about HMUS: Website | Benchmark | Holdings | HMUS Chart
Weekly Top Gainers | Cannabis Stocks
Aurora Cannabis (TSX: ACB) (NYSE: ACB) (FRA: 21P)
- Nov. 2/20 Open: $5.45
- Weekly High: $15.34
- Max Gain: +181.47%
Learn more about Aurora Cannabis: Website | IR Website | Investor Deck | ACB Chart
Tilray (NASDAQ: TLRY) (FRA: 2HQ)
- Nov. 2/20 Open: $6.29
- Weekly High: $12.14
- Max Gain: +93%
Learn more about Tilray: Website | IR Website | Investor Deck | TLRY Chart
Organigram (TSX: OGI) (NASDAQ: OGI) (FRA: 0OG)
- Nov. 2/20 Open: $1.64
- Weekly High: $2.55
- Max Gain: +55.49%
Learn more about Organigram: Website | IR Website | Investor Deck | OGI Chart
Ignite International (CSE: BILZ) (OTCQX: BILZF) (FRA: 2L0)
- Nov. 4/20 Open: $0.44
- Weekly High: $0.64
- Max Gain: +45.45%
Learn more about Ignite: Website | IR Website | Investor Deck | BILZ Chart
Cronos Group (TSX: CRON) (NASDAQ: CRON) (FRA: 7CI)
- Nov. 4/20 Open: $7.74
- Weekly High: $10.99
- Max Gain: +41.99%
Learn more about Cronos Group: Website | IR Website | Investor Deck | CRON Chart
SOL Global (CSE: SOL) (OTCPK: SOLCF) (FRA: 9SB)
- Nov. 4/20 Open: $1.34
- Weekly High: $1.90
- Max Gain: +41.79%
Learn more about SOL Global: Website | IR Website | Investor Deck | SOL Chart
Charlottes Web (TSX: CWEB) (OTCQX: CWBHF)
- Nov. 2/20 Open: $3.91
- Weekly High: $5.38
- Max Gain: +37.60%
Learn more about Charlotte’s Web: Website | IR Website | Investor Deck | CWEB Chart
- Nov. 2/20 Open: $90.05
- Weekly High: $118.59
- Max Gain: +31.69%
Learn more about GW Pharma: Website | IR Website | Investor Deck | GWPH Chart
TerrAscend (CSE: TER) (OTCQX: TRSSF)
- Nov. 2/20 Open: $7.80
- Weekly High: $10.25
- Max Gain: +31.41%
Learn more about TerrAscend: Website | IR Website | Investor Deck | TER Chart
Innovative Industrial Properties (NYSE: IIPR)
- Nov. 3/20 Open: $123.05
- Weekly High: $160.55
- Max Gain: +30.48%
Learn more about IIP: Website | IR Website | Investor Deck | IIPR Chart
- Nov. 3/20 Open: $18.80
- Weekly High: $24.30
- Max Gain: +29.26%
Learn more about GrowGeneration: Website | IR Website | Investor Deck | GRWG Chart
Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1)
- Nov. 4/20 Open: $25.25
- Weekly High: $32.55
- Max Gain: +28.91%
Learn more about Canopy Growth: Website | IR Website | Investor Deck | WEED Chart
Aphria (TSX: APHA) (NYSE: APHA) (FRA: 10E)
- Nov. 4/20 Open: $6.42
- Weekly High: $7.98
- Max Gain: +24.3%
Learn more about Aphria: Website | IR Website | Investor Deck | APHA Chart
Green Thumb (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2)
- Nov. 2/20 Open: $21.30
- Weekly High: $25.74
- Max Gain: +20.85%
Learn more about GTI: Website | IR Website | Investor Deck | GTII Chart
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF)
- Nov. 3/20 Open: $0.64
- Weekly High: $0.75
- Max Gain: +17.19%
Learn more about Red White & Bloom: Website | IR Website | Investor Deck | RWB Chart
Curaleaf (CSE: CURA) (OTCQX: CURLF)
- Nov. 4/20 Open: $12.55
- Weekly High: $14.28
- Max Gain: +13.78%
Learn more about Curaleaf: Website | IR Website | Investor Deck | CURA Chart
Charts Source: Barchart.com
This U.S. Cannabis Stock Appears to Be Way Undervalued and May Actually Benefit From a Second Wave of the Pandemic
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