While it’s open to debate whether President Donald Trump made America great, the 2016 election did produce one undeniable result: it laid the foundation for cannabis-related businesses, thereby dramatically improving profitability potential for marijuana penny stocks.
During the general election, a record number of states voted for marijuana legalization to varying degrees. Of those voting states, The Washington Post declared that California represents the bellwether. With roughly 12% of Americans calling California home, a major win here would signal greater social acceptance towards cannabis.
Of course, The Golden State voted for full recreational marijuana use, bolstering marijuana stocks. Not only that, this year is particularly important for cannabis-related businesses as, generally speaking, Californians no longer have to carry medical “green cards” to purchase their “herbal solutions.” It must be noted that specific regulations vary from city to city; however, the overall regulatory environment has loosened substantially.
Aside from social acceptance,