The Midterms' Green Wave

Forget the blue wave. This real winner on Tuesday did not have an (R) or a (D) at the end of their name. This year's midterm elections had a green wave. Marijuana passed in three out of the four states where it was on the ballot. In Missouri and Utah, voters chose to legalize medical marijuana, while Michigan voted to allow recreational marijuana. North Dakota was the only one of the states where voters rejected the measure.

On What'd You Miss This Week, Scarlet Fu, Joe Weisenthal, Caroline Hyde and Romaine Bostick spoke with Vivien Azer, a Senior Research Analyst at Cowen, about what this meant for the marijuana market in the United States. Azer said the election results were critical and a "continuation of momentum" from the 2016 election, when eight out of the nine ballot measures passed. Azer, who is the first senior Wall Street analyst to cover the emerging cannabis sector, explained why political leadership is a key ingredient for the industry. As the Washington guessing game continues over who could replace Jeff Sessions as Attorney General, Azer said any name would be an improvement. It is "really hard to imagine anyone who could be worse for the cannabis industry," she said. As for the new Democratic-controlled House, Azer predicted having Nancy Pelosi as Speaker would be "helpful" for the industry.