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Wait, Maine Has The Most Weed Investors In The Us?

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Where do most of America’s pot stockholders live? According to new data, surprisingly, the Pine Tree State takes the (infused) cake.

When it comes to corporate investments into the legal cannabis markets, Big Alcohol and Big Tobacco reign supreme. But when it comes to individual stockholders, Maine hosts the most private investors out of all US states, according to new data from Investing.com, a global investment platform, and SEMrush, an online account management system.

The two platforms compiled data on their users’ interest in buying pot stocks. They discovered that Maine had the most interested investors (7.1 percent of users), followed by followed by Massachusetts (6.1 percent), Michigan (5.6 percent), Alaska (5.2 percent), and California (5.1 percent). 

Maine was one of the first states to legalize medical marijuana in 1999. The state legalized recreational use in 2016, though regulators have still not rolled-out licensed recreational sales. (You read that right: It’s been three years of legal weed but no legal sales in the Pine Tree State.)

According to the analysts at Investing.com, neither New York nor Pennsylvania made it into the top states with the most interest in weed investments.

“What’s surprising to me is that New York and Pennsylvania — two states with high levels of personal marijuana use — don’t appear among the top five states,” said Investing.com’s US Markets Analyst, Jesse Cohen. “I would also have expected California, one of the first states to legalize cannabis, to be higher on the list. Alaska, meanwhile was a real shocker to me — but then again it just goes to show the strong effect legalization has on interest in cannabis stocks.”

Source: https://merryjane.com/news/wait-maine-has-the-most-weed-investors-in-the-us

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