Marijuana Stocks Enjoy Positive Growth Following Recreational Legalization In 4 States

Shares of Pineapple Express Inc. [s:PNPL] rose 28.5% on Wednesday after four states -- California, Massachusetts, Nevada and Maine -- voted to legalized the recreational adult use and sale of marijuana. Arizona was the lone state voting on recreational marijuana that voted not to legalize. Pineapple Express, like many of the marijuana stocks out there, is an over-the-counter stock. United Cannabis Corp. shares were up more than 13% and American Cannabis Co. rose nearly 8% as many other companies in the space began seeing stocks pop in the wake of the vote. Biotech and pharmaceutical companies that deal in and have the potential to benefit from marijuana legalization have also seen shares gain favor following the vote, which is expected to marijuana legalization in steam in the U.S.