Welcome to my video presentation. Below is a condensed transcript; the video contains charts and additional details.

The broader stock market is in a slump that hovers near bear territory. Investors are skittish because of rising inflation, tightening monetary policy, a slowing economy, the Russia-Ukraine war, and other risks.

How can you, as an investor, survive these bearish conditions? One tactic is to buy the stocks of companies that provide “essential services.” One such essential service is marijuana. That’s right: consumers clamor for pot, whether the market is going up, down or sideways. Let’s take a look at the latest trends that are fueling the marijuana business.

Marijuana and public safety. States that have legalized marijuana are experiencing fewer incidents of driving while impaired than states that continue criminalization, according to a new study conducted by the non-profit research group, RTI International.

The analysis of driving under the influence of cannabis (DUIC) found that people are less likely to drive within three hours of consuming pot in states that have legalized for medical or recreational use compared to non-legal states.

The RTI study was published in the June 2022 issue of Preventive Medicine Reports.

The study asserts: “One potential explanation for lower prevalence of DUIC in legal states is… in legal states, cannabis users may receive more information about the risks of cannabis use from sources like physicians who issue medical cannabis cards or dispensary staff.”

Marijuana and medicine. The federal government has announced funding opportunities for medical scientists to research the benefits and risks of marijuana in oncology (cancer) treatment.

In a notice recently posted by the National Institutes of Health (NIH), the agency said roughly one in four cancer patients have reported using marijuana products to manage symptoms.

NIH’s National Cancer Institute said that the goal of the solicitation is to “promote research in understanding the mechanisms by which cannabis and cannabinoids affect cancer biology, cancer interception, cancer treatment and resistance, and management of cancer symptoms.”

The size of the medical marijuana market surpassed $22.4 billion in 2020 and it’s estimated to generate a compound annual growth rate of 19.3% between 2021 and 2027, according to Global Market Insights.

The increasing awareness among patients as well as health care professionals regarding the benefits of medical marijuana has prompted an increasing number of lawmakers and regulatory authorities to consider the legalization of medical cannabis.

National polling. Yet another national poll has found that a majority of Americans across the political spectrum support either legalizing marijuana nationally or allowing states to establish their own pot laws.

Conducted May 8-10 by YouGov, the survey reveals that 45% of respondents think marijuana should be legalized nationwide, while another 25% said states should have the autonomy to decide, for a total of 70% who chose alternatives to outright prohibition. Only 17% said cannabis should remain illegal, and 13% said that they weren’t sure.

International news. Thailand announced last week that it plans to give away one million cannabis plants to households across the nation, to stoke enthusiasm for a law taking effect in June that will allow residents to grow weed for their personal medicinal use or as a small-scale commercial enterprise.

As Thailand’s leaders watch North America and Europe embrace marijuana legalization, this Asian country is striving to become a leader in the region’s fledgling cannabis industry.

Consultancy Prohibition Partners estimates that Asia’s medicinal cannabis market could be worth $5.8 billion by 2024.

Watch This Video: Weekly Week Report (05-10-22)

California. Governor Gavin Newsom (D) last Friday introduced a budget proposal that seeks to rescind the state’s marijuana cultivation tax and revise cannabis tax revenue allocations.

Newsom’s new budget proposal is intended to fight the growing black market for marijuana in California, by making legal weed cheaper and more competitive. It’s a step that marijuana industry leaders have long touted, especially amid this year’s rising inflation.

It seems counterintuitive, but eliminating the cultivation tax in California would actually boost monthly marijuana tax revenue, according to a recent analysis conducted by the Reason Foundation.

The report found that ending the cultivation tax would drive down costs for consumers and hence increase legal purchases to the point where the taxes on them would make up for the loss of the cultivation tax revenue.

Michigan. The state broke a marijuana sales record in April, with nearly $200 million in cannabis purchases, according to state data released last week.

The state reaped roughly $168 million in recreational marijuana sales and $27 million for medical cannabis, for a total of nearly $195 million.

These sales in April generated $19.5 million in excise tax revenue that the state will use to fund highway infrastructure, schools and local governments. That’s on top of $13 million in general sales taxes generated by marijuana sales.

Trying to find the right pot stocks to buy? Selectivity is key. That’s why I urge you to read my new book: The Wide World of Weed and Psychedelics. It’s your definitive guide for making money in the thriving cannabis and psychedelics industries. Click here to get your free copy.

John Persinos is the editorial director of Investing Daily.

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