In a landmark move, Ohio has sparked a potential green rush by becoming the 24th state to legalize recreational cannabis. Aligning with a national shift in sentiment, Tuesday’s elections sent waves of euphoria across the market, as federal legalization shines on the horizon.
Market Impact Of Ohio’s Decision
Matt Karnes of GreenWave Advisors captured the moment’s magnitude. “It’s significant because it moves the needle closer to the tipping point for federal reform,” reported The Messenger.
As the dawn broke on Wednesday, AdvisorShares Pure Cannabis ETF (NYSE:YOLO) surged, reflecting confidence in the industry. A more than 5% leap in value signaled investors’ bullish attitudes, riding the high of Ohio voters’ historic decision.
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