Cannabis is growing like crazy…in every way you can imagine. Global spending on legal cannabis is projected to grow from $9.5 million in 2017 to $32 billion in 2020 according to Arcview Market Research and BDS Analytics. That’s 230% !!! The crazy part is, research projects that 72% of that will be from the United States. $23.4 billion in cannabis spend will come from the US alone. States are moving to replace old laws, and as each state joins, the federal government will be forced to open their mind to the benefits of cannabis.
As the market expands, more and more companies are flowing in gearing up for a fast race to conquer the cannabis market. Cannabis stocks are now being listed on the NYSE and NASDAQ…crazy to think just 1 year ago every cannabis company was a penny stock.
Our neighbors to the north have completely legalized cannabis, as of October 17, 2018 cannabis will be legal in Canada. The Canadian stock exchange, a much friendlier exchange to cannabis has US based companies listed as well. Crazy to think we are just a few years away from this, if not sooner.
I’m no Warren Buffet, but as this market continues to grow, “Pot” stocks are looking like great buys.