A ballot measure to legalize the recreational sale and use of marijuana in Florida failed to pass late Tuesday, sending shares of pot companies into freefall and dealing a blow to cannabis firms that had invested millions in the legalization campaign.

The Sunshine State's long-awaited attempt to legalize personal-use cannabis falls short, but it's not all bad news.

Florida voters rejected ballot measures Tuesday to protect abortion rights and legalize marijuana, handing victories to Republican Gov. Ron DeSantis