iStock.com/HighGradeRoots Florida House Ends Ban on Smoking Medical Marijuana
Against the wishes of the Federal government, a growing number of states are legalizing medical and recreational marijuana. Florida is the latest state to greenlight the smoking of medical marijuana.
In a landslide vote (101-11), the House passed the proposal on March 13. Governor Ron DeSantis is expected to sign the bill into law by March 15. This will obviously be a boon for cannabis companies with operations in Florida. (Source: “In landslide vote, Florida House agrees to end ban on smoking medical marijuana,” Miami Herald, March 14, 2019.)
According to one projection, Florida’s cannabis market should hit $1.3 billion by 2021. (Source: “Florida’s marijuana forecast: Hazy, with chances for growth high,” Tampa Bay Times, December 20, 2018.)
In light of this news, we take a look at three retail marijuana stocks that should profit now that smoking medical marijuana is legal in the Sunshine State.
Floridians Can Now Spark It Up
In January, Florida Governor DeSantis gave the House a deadline to repeal the state’s ban on smokeable medical marijuana. He gave them a deadline of March 15; if it wasn’t repealed by then, he would simply remove the appeal that was supported by the previous governor, Rick Scott.
Back in 2017, more than 70% of Florida voters approved a constitutional amendment to legalize medical marijuana. The bill was signed into law, but Governor Scott limited medical marijuana use to pill, oil, edible, and vape form. It was illegal to smoke medical marijuana.
As expected, the smoking ban was challenged in court. In May 2018, the ban was ruled to be unconstitutional, but the Department of Health appealed the ruling. Shortly after taking office this past January, DeSantis issued an ultimatum to the Legislature, threatening to drop