or to vote comment and more!
With more states voting to legalize marijuana in some way, a new industry is emerging that is expected to reach $21.8 billion in sales by 2020. What was once seen as a "gateway drug" has become the catalyst for a multi-billion-dollar industry.
The U.S. cannabis market is estimated to be worth $6.7 billion. Canada's market is estimated to have hit $8 billion.
While the industry is still in its infancy, there is a huge potential for growth in the cannabis market. These five stocks look to be promising in 2018.
He may not realize it yet, but U.S. Attorney General Jeff Sessions’ opposition to weed could boost cannabis investor wealth.
One particular date stands out as a shining example of Sessions’ impact on cannabis stocks – January 4, 2018.
It was on this very day that Sessions delivered a one-page memo to all attorney generals in the states.
The memo detailed how he repealed all previous guidance regarding cannabis enforcement.
In states that allow it, legal weed has boosted industries from security guards to growers while creating new challenges for regulators, police and neighborhood activists opposed to sales near them. As the 10th state to legalize marijuana for adults, New Jersey could see changes in its economy, popular culture and public safety. Changes seen in other states include:
“The end of cannabis prohibition is inevitable.”
That is one of the core principles of Privateer Holdings, a Seattle-based private equity firm investing exclusively in the legal cannabis industry. Judging by the $100 million-plus funding round Privateer closed in January, the company is not having difficulty finding investors who subscribe to the company’s mantra.
While the language in the new budget didn't go so far as to protect the use of cannabis beyond medical purposes, the Department of Justice hasn't had that restriction imposed on it since Jeff Sessions took the helm over a year ago. Further, the inclusion of the amendment is a powerful signal that Congress supports the rights of states to regulate and tax cannabis, suggesting that any attempts to interfere at all by the Department of Justice would face political backlash.
At the turn of the year, California officially became the most significant adult-use recreational cannabis market around, leaving pot stock investors salivating. Though some bumps have occurred along the way, especially some regulatory hurdles, the move to repeal prohibition has mostly been a success.
