NEW YORK (MainStreet) - The smart and monied set with investment money to place in the market has decidedly moved - and with greater strength than ever - into the marijuana sector over the last quarter.
"The successful legislation in Oregon, Alaska, and the District of Columbia, along with the close result in Florida, will make 2015 a critical year for the cannabis industry," said Michael Swartz, an analyst at Viridian Capital and Research, a Manhattan based financial analyst-banker group focused on the sector. "These midterm results will offer law makers in other states the confidence to introduce new initiatives for action in 2015 and placement on 2016 ballots. We believe several states will see bills in 2015 to legalize recreational marijuana and that legalization could be on the ballot in seven to thirteen states -- most notably California -- during the 2016 elections."
His firm also identifies and tracks publicly traded companies in the cannabis sector and publishes a report and stock index which analyses stock performance, company announcements and valuations against important industry trends. That the public market would begin to see the impact of ongoing and increasingly large investments by increasingly well known investors, particularly over the last three to six months, is not a surprise, particularly given the backgrounds and focus of those now moving into the fray publicly.