Today, and potentially every other day we have left, is going to be a bad one for the stock market, although perhaps not as bad as one might expect. But, as always, there are opportunities. And at the moment, no opportunity looks quite as ripe as that in weed.
Americans across the country voted Tuesday for the right to inhale without going to jail, legalizing recreational marijuana in four states, and medical marijuana in three others….
The results mean that nearly 68 million Americans, or about 21% of the U.S. population, will now live somewhere where it is legal to use marijuana for fun.
And it wasn’t just us condescending bi-coastal types racing for a toke. While California, Maine, Massachusetts and Nevada both defied the Trump landslide and went for recreational pot, rock-ribbed red states Arkansas, Florida and North Dakota gave the thumbs-up to medical marijuana.
Can’t find the right opportunity, like this one with Snoop Dogg or this future nickelbag NYMEX or this non-marijuana hedge fund “hedge fund,” or shut out by those establishment types that went all in with Crooked Hillary? Luckily for you, there are a few other silver linings (of a sort) to the dark, dark clouds filling the horizon, and they’re completely legal.
Most analysts expect health-care stocks, lately beaten down, to rally in the U.S. as well later on Wednesday. Mr. Trump has vowed to overturn President Obama’s health-care law, which has squeezed the margins of private insurers. By contrast, Democrat candidate Hillary Clinton had been outspoken against drug-price increases….
European basic-resources corporations, which include miners, also rose powerfully Wednesday. The rise suggests investors forecast stronger demand for inputs from infrastructure firms in the U.S., which are expected to get a lift under the new Republican president….
He has also promised to “rebuild” the U.S. military, potentially boosting stocks in the defense sector. Some investors are hopeful that his pledge to slash taxes will bode well for consumer spending as well.