The marijuana industry is budding before investors’ eyes, with the North American market slated to grow by an average of 28% through 2021, hitting approximately $24.5 billion in annual sales within a few years, according to cannabis research firm ArcView.
Furthermore, the public’s opinion about cannabis has taken a dramatic turn in recent years. In the U.S., numerous polls have found strong support for the idea of legalizing recreational cannabis, with even more overwhelming support for the legalization of medicinal marijuana. Combined, rapidly growing sales and shifting opinions have produced the perfect environment for marijuana stocks to thrive. Many are in fact up more than 1,000% over the trailing-two-year period.
To boot, Mexico legalized medical weed in June 2017, and Canada appears to be on the doorstep of becoming the first developed country to legalize recreational cannabis by this summer. Doing so is forecast to lead to $5 billion or more in annual sales.