Despite receiving a majority of "yes" votes, Florida's Amendment 3 failed to pass. Here's why, how state now compares to the rest of the country.

(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.

More than half of Florida voters approved of Amendment 3, but it did not reach the required 60 percent threshold to pass.