If no reschedule to 2, the legit big boys with deep pockets sit on the sidelines for awhile. The risk profile for the industry would remain too high and they will continue to invest elsewhere. So no 2, no Bob (for awhile)....
CA and NV (to a lesser degree) are important outcomes to the changing political tide on MJ.
At some stage, if the scheduling of MJ stays put and we make zero progress on the federal level, this goes to the SCOTUS. I think that happens when we get to 2/3 of states with medical laws on the books. Or about 10 more. (I think we are at 24? we need 34)
Look what happened with same sex marriage. Groundswell movement, followed by state by state passage of bills, and eventual ruling by SCOTUS.
Nobody I know or interact with even talks about same sex marriage as a "thing" anymore. It's just accepted and really no big deal in our society. It happened quickly. I see MJ following a similar path.
CA and NV will be a catalyst.
As far as investor sentiment: people like winners. As yourself one thing: are we moving towards widespread legalization of this plant or retreating towards the days of full prohibition?
Groundswell movement, bandwagon winner-chasers, and increasing support across our society will lead to a decision in the highest court.
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