By, Tim Sultan
IG: SultanOfCannabis https://www.instagram.com/sultanofcannabis/
On March 10th, The Phoenix New Times reported that Arizona’s chances at legalizing pot for everyone 21 and over just got even better. The last renegade group threatening to block the current initiative, Smart and Safe AZ, announced that it has decided to support Smart and Safe after all. Since September, 2019, the newly-formed AZ Cannabis Chamber of Commerce had been pushing for a legislative route to legalization, rather than the voter initiative currently underway.
Mason Cave, President of the Chamber told the Phoenix New Times that his Board agreed to support Smart and Safe now because their group is aligning itself more closely with Arizona’s Marijuana Industry Trade Association (MITA). And MITA has been an early and vocal supporter of the Smart and Safe initiative
The Chamber’s March 10th endorsement makes it even more likely that the Smart and Safe initiative will be approved by Arizona voters on Nov. 3rd. If Smart and Safe passes, sales are expected to triple, turning Arizona’s $500 million markets (in 2019) into a $1.5 billion market. For those looking for winners in the cannabis game, watch those who own multiple dispensary licenses. The value of their licenses will double, at least. There are two top dogs in Arizona right now: Harvest has 22 licenses and Curaleaf has 10 licenses. For investors, Harvest and Curaleaf just became “Smart and Safe” bets. And their stock is cheap right now.
Disclaimer: The author has NO stock market experience whatsoever. He is purely sharing his own personal opinion as a cannabis industry insider in Arizona.