It appears that there is strong consensus amongst major populations groups who will ultimately determine the viability of legal marijuana in the US. That’s according to a new Quinnipiac poll just released.
The news is further support for the development by a broad group of cannabis and CBD companies who are preparing for adoption with efforts to fill the new demand for marijuana, hemp and CBD products including Tilray, Inc. (NASDAQ:TLRY), Cronos Group (NASDAQ:CRON) (TSX:CRON.TO) and AmeriCann, Inc. (OTC:ACAN).
As this trend takes hold, the CBD products sector is expected to grow at an equal pace. An early aggregator taking the initiative is The Yield Growth Corp., with varied interests across the sector. The Yield Growth Corp. (CNSX:BOSS.CN) has developed a line of wellness and beauty products that take advantage of what the hemp plant can offer legally, as well as offering the opportunity to infuse products with THC or CBD where they are or become legal.
One factor that may have inhibited public support for CBD and hemp-based products is an attitude by older Americans that is a holdover from the drug era and a basic misconception about the regulation of the newly emerging market. Clearly that is changing dramatically.
Numbers Tell the Real Story
The Quinnipiac University poll that was just released shows the true story behind the shift in attitudes towards marijuana legalization and logically, its use in other areas such as infused products, food stuffs, beverages and the like.
It appears that millennials take the lead with 85% of voters ages 18 to 34 years old saying that they were in favor of legalized weed, and among older millennials as well as the previous tailing group known as the Gen X voters, 63% were also in favor of legal pot. That group is aged 35 to 49 and represents a significant and active voting block.
The surprise in the poll continues to be the boomers over age 65. Only 44% of that group supports wholesale legalization of marijuana. This may be due to the boomers exposure to drug culture that was programmed to “just say no” in order to reduce crime related to all drug use. This does not account for the shift in control of substances or the new applications of marijuana and cannabis substances.
The poll shows one area that is probably most telling: the survey found that a significant 93% of Americans support the use of medical marijuana if prescribed by a physician. So, it appears that if the medical use of marijuana were to reach the federal legal jurisdiction in a nationwide vote, the bill would pass with flying colors.
Many Leaders Already Adopting the Reality
Recognizing the strong support found among the up and coming generations, many leaders in the cannabis, CBD and hemp products segment have begun creating new brands and products with a glowing growth horizon.
A first-mover solidly onboard in this area is The Yield Growth Corp., whose unique approach aims to sell its base products nearly anywhere in the world. The company can then capitalize on markets that legalize recreational use of THC or CBD as they take place. It’s a smart strategy that allows the company to open new markets with the legalization as a pathway to a much larger market share.
The Yield Growth Corp. has launched with multiple major brands to provide a whole portfolio of products in the developing CBD space. They currently have a set of nearly 50 different products launching in 2019 under the brand Urban Juve. The initial launch consists of base products only, with an eye to expansion.
Along with the initial launch of Urban Juve, The Yield Growth Corp. has granted CROP Infrastructure Corp., -which grows, produces, and sells cannabis products- the rights to distribute Urban Juve products in Italy. CROP currently has a strong base in California, Nevada, and Washington State, and have expanded into Jamaica to leverage the ideal growing conditions in that island nation.
Politicians are Getting on Board with Easier Stances and Legalization
Beyond the attitude shifts in public opinion, many politicians are also increasingly supportive of–and some are even leading–efforts to remove marijuana from the federal list of controlled substances. Some are even going as far as decriminalizing use and seeking to clear the records of individuals subject to cannabis-related criminal convictions.
A leading voice in the efforts is New Jersey Senator Cory Booker, who announced in February that he is planning to run in the 2020 Democratic presidential primary. Booker is credited with reintroducing the Marijuana Justice Act. This bill would make pot legal on a nationwide basis, and could retroactively remove the criminal records of those convicted on marijuana-related charges. It’s a long stretch, but the data seems to indicate that attitudes have taken a serious shift towards legalization and the largest groups of up and coming voters are looking to endorse moves that make pot legal and safe.
Cannabis and CBD brands developers who supply the CBD and hemp markets will be the biggest benefactors from the shift toward legalization and attitudes from mass markets. These include:
Tilray, Inc. (NASDAQ:TLRY) engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc. was incorporated in 2018 and is headquartered in Nanaimo, Canada.
Cronos Group (NASDAQ:CRON) (TSX:CRON.TO) is hoping to grow through providing medical marijuana to international markets. The company has an exclusive cannabis supply agreement with Pohl-Boskamp, which distributes products to more than 12,000 pharmacies in Germany. Cronos is participating in a joint venture to supply medical marijuana to Australia, New Zealand, and Southeast Asia.
AmeriCann, Inc. (OTC:ACAN) develops, owns and supports advanced medical cannabis cultivation and processing facilities nationwide. The Company has a multi-market portfolio of over 1,000,000 square feet of sustainable cannabis production infrastructure in various stages of development.
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For a more information about The Yield Growth Corp. and CBD-based businesses, see the article at: http://usanewsgroup.com/2019/01/15/the-sleeping-giant-for-2019-just-woke-up-and-its-a-game-changer-for-investors-looking-to-diversify-into-a-multi-billion-dollar-sector/
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