Cannabis legalization decreases the stock market value of pharmaceutical firms

Started by Tank, September 03, 2022, 09:18:40 AM

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Cannabis legalization decreases the stock market value of major pharmaceutical firms

"Researchers from California Polytechnic State University and The University of New Mexico find that stock market investors predict cannabis legalization will reduce conventional pharmaceutical sales by billions of dollars.

In their recent study, "U.S. Cannabis Laws Projected to Cost Generic and Brand Pharmaceutical Firms Billions," published in PLOS One, Ziemowit Bednarek from the Finance department at California Polytechnic State University, Sarah Stith from the University of New Mexico's Economics department, and a co-author studied how the stock market returns of publicly traded pharmaceutical firms responded to medical and recreational cannabis legalization events. They found that stock market returns were 1.5–2% lower at 10 days following a cannabis legalization event and that the implications of the annual sale from this reduction were in the billions."

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Dark Lightning

I personally don't tough the stuff. Smoking it is completely out of the question for me, and all I see is anecdotal evidence for relief. Maybe I missed the memo. If pharmaceutical companies invest in it (first, I'd imagine that it would have to be federally legalized here in the US) the price would go up, methinks. The cost for insulin here is a crime.


Hm. Weird. Pharma and medical device/service/whatnot stocks are the ones I actually trade at a profit these days - but then I suppose the vast majority of mine have little to nothing to do with weed.
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