Cronos Group (CRON) Reports Q3 EPS of $0.19

Analysis: U.S. states votes legalizing marijuana to drive growth despite election uncertainty

November 4, 2020 3:01 PM EST

By Shariq Khan and David Randall

(Reuters) - Votes to legalize marijuana on Tuesday by a handful more U.S. states should spur further development of the industry and possibly bring changes at a federal level, even if pro-decriminalization candidate Joe Biden loses his bid for the White House, according to industry executives and analysts.

Consumer demand and the promise of tax revenue are leading more states to embrace pot, which then leads other states to follow suit, making what happens at the local level more important, they said.

Shares of U.S. companies with footprints in... More

Pre-Open Stock Movers 11/04: (LYFT) (SAVA) (UBER) Higher; (RNWK) (TRHC) (MRCY) Lower (more...)

November 4, 2020 9:24 AM EST

Today's Pre-Open Stock Movers:

Lyft (NASDAQ: LYFT) 20.5% HIGHER; California voters overwhelmingly approved Proposition 22 to allows the so-called "gig economy companies" to continue classifying their drivers as independent contractors and not employees.

Cassava Sciences, Inc. (NASDAQ:... More

Recreational Marijuana Legalized in AZ, NJ and SD, Prompting Cowen to Increase TAM to $34 Billion

November 4, 2020 7:59 AM EST

Voters in Arizona and New Jersey approved ballot measures to legalize recreational marijuana while South Dakota approved the use of cannabis for both recreational and medical purposes.

As investors still await results from Montana and Mississippi, Cowen analyst Vivien Azer noted the need to focus on about 30% upside to TAM that comes from State-level progress.

TAM expands by more than $3 bn [to $34 bn], given adult use progress in AZ and NJ, coupled with positive outcomes in MT and SD, Azer wrote in a note on Wednesday.

Pablo Zuanic, an analyst at... More