(Reuters) -Shares of pot companies slid on Wednesday after a ballot measure to legalize the recreational use of marijuana in Florida failed to get the required majority to pass, even as the firms invested millions in a campaign to tap the lucrative market.

Shares of cannabis companies fell Wednesday after a ballot measure that would have legalized recreational marijuana in Florida failed to pass.

Florida voters rejected recreational marijuana legalization Tuesday night, dealing a huge blow to the industry and those that had bet heavily on opening up what could have been the nation’s third-largest market.