One of the most exciting parts of the cannabis legalization trend is how universal support for it is.
Although deep in the heart of “red state country,” Oklahoma has one of the most liberal medical marijuana laws in the country.
That’s great news for investors.
Today, we’ll give you an edge on the market by showing you the five stocks with the most at play in Oklahoma.
Before we get to the marijuana stocks, here’s why Oklahoma became one of the biggest surprises of the legalization movement…
Why Oklahoma Marijuana Legalization Is Such a Success
While Oklahoma adopting one of the most open medical marijuana policies might’ve been a surprise, its success wasn’t.
The state approved 6,500 marijuana business licenses in the first year alone.
Cannabis has taken hold so strongly that there are actually licensed dispensaries competing with each other on the same city block, not unlike Starbucks Corp. (NASDAQ: SBUX). Retail sales topped $345 million last year.
But it hasn’t stopped there.
The state is now considering full recreational legalization as well. A petition was filed to amend the Oklahoma Constitution to legalize recreational marijuana for residents 21 and older.
With a 15% excise tax, that could also be a boon for the state’s coffers, which can only push politicians to support the initiative.
This is yet more proof of how the legalization wave sweeping the country really has no political affiliations. People – and legislators – are waking up to the fact that the cannabis plant is chock full of compounds that can treat many conditions, improve general wellness, and yes, even provide recreation.
And it just shows what an opportunity cannabis legalization is for investors.
We’re still in the initial wave of the green gold rush, and there is still plenty of investing opportunity. If you feel like you’ve missed the boat, think again.
We’ve really only just scratched the surface of what cannabis can do, and we’ve got the best stocks to buy to profit from the cannabis explosion in Oklahoma. They will position you for even more profits when recreational weed is legalized there soon.
It is nice that celebrities have jumped on the bandwagon to promote wellness through cannabis. The real strength comes from public support, which is at an all-time high. Thirty-three states have legalized it in one form or another (with more on the way), and $12.8 billion in new wealth has been already been created.
“There’s no denying it,” said Money Morning Director of Cannabis Investing Research Don Yocham, “This market is an unstoppable economic force.” Once the federal government ends cannabis prohibition nationwide, all bets will be off – demand will boost share prices through the roof.
Some of the companies Don highlighted in his daily cannabis profits newsletter have already put down roots in Oklahoma.
Here’s what he’s following…
The 4 Oklahoma Marijuana Stocks to Watch
Cannabis operator Curaleaf Holdings Inc. (OTCMKTS: CURLF) announced it was buying multistate operator GR Companies (doing business as Grassroots Cannabis) to increase Curaleaf’s presence to 19 states from 12. When the merger closes, GR will give Curaleaf a dozen licenses and three retail locations in Oklahoma.
Acreage Holdings Inc. (OTCMKTS: ACRGF) has plans to open a retail location in Tulsa, and it has been approved for one grower license in Pocasset.
Dixie Brands Inc. (OTCMKTS: DXBRF), one of the cannabis industry’s leading consumer packaged goods companies, and SLANG Worldwide Inc. (OTCMKTS: SLGWF) are also getting in on the action.
Dixie also has a portfolio of more than 100 cannabis-infused products in 15 categories, including a deal with Arizona Beverages. You see, cannabis goes well beyond pills, gummies, and body lotions. It is expanding as an ingredient in food items with unlimited potential for market penetration once the public demands these products. And if the past is any indication, they will in a very big way.
The cannabis wave continues to wash over this country. Last year’s shakeout of weaker companies – and their stocks – provided great entry prices for the survivors and the chance to once again get in on the ground floor.
Action to Take: It’s not too late to start investing in cannabis. Add these four stocks to your watch list before Oklahoma legalizes recreational marijuana.
Source: Money Morning