Pot stocks dive as Florida rejects legalization of recreational marijuana

Contributing sentiments towards policy:

50% : Cannabis companies had a lot riding on the vote, with major pot firms having made substantial contributions to Smart & Safe Florida, the group advocating for the passage of Amendment 3.Trulieve, which operates 156 stores in Florida and is the largest player in the state, has made nearly $144.6 million in contributions to the group since 2022.ATB Capital Markets analyst Frederico Gomes said if marijuana use is reclassified, opens new tab as a less serious federal crime, it could more than offset any effects of the failure to pass the amendment.

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