US stock market daily report (April 20, 2015, Monday)

When the President of the United States speaks, everyone listens. President Barack Obama said it’s time to think about changing the status of Marijuana under federal law. A huge vote of support from the most powerful man in the world. Obama’s stance on pot will cheer supporters of legalization whose efforts have put the legalization of Marijuana on a growing number of state ballots over recent years.

In an interview for CNN’s documentary that aired on April 19, 2015, “Weed 3: The Marijuana Revolution”, President Obama said an ideological adjustment is needed as far as decriminalizing marijuana is concerned. The President said, “You know, I think I’d have to take a look at the details, but I’m on record saying that not only do I think carefully prescribed medical use of marijuana may in fact be appropriate and we should follow the science as opposed to ideology on this issue. But I’m also on record as saying that the more we treat some of these issues related to drug abuse from a public-health model and not just from an incarceration model, the better off we’re going to be.”

Monday April 20 is known as 4/20 - national weed day for pot smokers worldwide which originated in San Rafael, California in 1971. The day is a celebration for everything about Marijuana. Legalizing Marijuana on the Federal level is something weed smokers and dispensaries in states that legalized weed, anxiously await.

According to data, during 2014 nearly 29 investments in cannabis startups amounted to almost $90 million. There are 23 states that legalized medical and/or recreational marijuana or reduced penalties for possession or consumption. In Colorado, an array of business opportunities have been created with the legalization of pot. After a little more than a year since dispensaries started legally selling recreational marijuana in Colorado, signs of businesses maturing is clearly evident.

Investors and new potential businesses looking to open dispensaries continue to remain highly cautious, due to Federal ruling on Marijuana.

The Federal Controlled Substances Act has Marijuana listed as a Schedule 1 drug - the most dangerous classification which is also used for heroin and LSD.

Contributed by Millennium Traders