How Big Could the Opportunity Be for Marijuana Stocks in California?
In November, Californians overwhelmingly voted to embrace pro-pot laws that clear the way toward creating the United States' biggest recreational marijuana market. Is California's marijuana market a boon to marijuana investors? Read on to see how big California's marijuana market could become.
First, some history
California pioneered medical marijuana legalization in the 1990s, but it has been slower to endorse laws that open up the recreational marijuana market.
In 2010, California's Proposition 19 fell on deaf ears when 53.5% of voters opted against passing it. If it had been passed, Proposition 19 would've allowed Californian adults over age 21 to possess up to 1 ounce of marijuana for personal consumption, and to grow marijuana in a space of up to 25 square feet.
At the time, supporters applauded Proposition 19 for its potential to help end the drug war with Mexico, while generating significant tax revenue. At least one report...
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