Election Day was a resounding success for the cannabis industry, with voters in a quintet of states passing new pot liberalization measures into law. This will certainly be a boon for the marijuana industry as a whole, but how exactly?
In this video clip from Motley Fool Live, Healthcare and Cannabis Bureau Chief Corinne Cardina Jurney and longtime Motley Fool contributor Eric Volkman talk about how U.S.-based cannabis companies can and will take advantage of this recent "green wave." This video was recorded on Oct. 20, before the election took place.
Corinne Cardina: All right. In our last five minutes, we're going to try to zoom through some American multi-state operators.
I'd love to touch on Curaleaf (OTC:CURLF), Trulieve (OTC:TCNNF), and Green Thumb Industries (OTC:GTBIF), but before we look at them specifically, do any of the U.S. stocks look particularly well-positioned to benefit from some of these hopefully positive outcomes in the state ballot initiatives or federal decriminalization?
Eric Volkman: Ultimately, I think all of them will, whether they're dancing around those states or not. Don't forget all five either have no marijuana industry or they just have the bare green roots of them. I think at this extremely early stage, I don't think you can identify any particular company that would benefit more than others. I think the whole industry is going to be lifted by that.
Honestly, I don't see any of those five ballot initiatives, I don't see them failing, just based on the polling, and the general mood of the country, and the general mood of the electorate. I think all marijuana stocks will benefit to some extent. Particularly the MSOs [multi-state operators] that you mentioned, they all operate, if not directly in those states, at least close to them.
So it's not like they're figuring out, ''God, how do we sell weed in Hawaii? We don't know this market.'' It's not that none of those five are unfamiliar to them, and none of those five are going to be this really steep learning curve.
Cardina: I think that we can see some instances where these companies replicate their success in new states.