What does this mean for Truelieve’s finances as i presume Rivers et all thought this would pass?
They were 5% (give or take) off the pass line
Marijuana Moment
Florida voters have rejected an initiative to legalize marijuana for adult use.
While the measure got a clear majority of votes, it failed to achieve the steep 60 percent vote threshold needed to pass a constitutional amendment under state law.
The initiative did benefit from major endorsements, including that of former President Donald Trump, the 2024 GOP presidential nominee and a Florida resident who said he would vote for it. At the same time, it faced a concerted opposition campaign from top officials such as Gov. Ron DeSantis (R) and the state Republican Party.
Summary of Amendment 3
- Adults 21 and older would have been able to purchase and possess up to three ounces of cannabis for personal use. The cap for marijuana concentrates would have been five grams.
- Medical cannabis dispensaries could have had the ability to “acquire, cultivate, process, manufacture, sell, and distribute marijuana products and marijuana accessories to adults for personal use.”
- The legislature would have been authorized—but not required—to approve additional entities that are not currently licensed cannabis dispensaries.
- The initiative specified that nothing in the proposal prevented the legislature from “enacting laws that are consistent with this amendment.”
- The amendment further clarified that nothing about the proposal would have affected federal law, which seemed to be an effort to avoid past legal challenges about misleading ballot language.
- There were no provisions for home cultivation, expungement of prior records or social equity.
- The measure would have taken effect six months following this approval by voters.
Source
The first of many quotes to roll in
