• A ballot initiative in Florida that would have allowed the recreational use of cannabis by adults has failed.
• To win, the initiative needed at least 60% of votes in favor. With 95% of precincts reporting, 57% of voters backed legalization.
• The initiative's rejection is considered a victory for Gov. Ron DeSantis (Rep.), who had campaigned against it. Former President Donald Trump, a Florida resident, has said he favored the measure.
• Medical marijuana is still legal in the state.
• Recreational marijuana initiatives are on the ballot in other states, including North Dakota and South Dakota. A medical marijuana initiative is on the ballot on Nebraska.
• Trulieve Cannabis (OTCQX:TCNNF), which is based in Florida's capital, Tallahassee, had contributed the most to the legalization campaign in the state. Curaleaf Holdings (OTCPK:CURLF) was another significant contributor.
• Other multi-state operators with dispensaries in the Sunshine State include the Cannabist Co. Holdings (OTCQX:CBSTF), Green Thumb Industries (OTCQX:GTBIF), Verano Holdings (OTCQX:VRNOF), Cresco Labs (OTCQX:CRLBF), Ayr Wellness (OTCQX:AYRWF), and Planet 13 Holdings (OTCQX:PLNH).
• Cannabis-related ETFs: Cannabis-related ETFs AdvisorShares Pure Cannabis ETF (YOLO), ETFMG Alternative Harvest ETF (NYSEARCA:MJ), and Amplify Seymour Cannabis ETF (CNBS).

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.