Marijuana stocks seem like the Holy Grail for investors.
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According to cannabis research firm ArcView, legal pot sales (which includes medical and recreational) grew by a scorching 34% in North America to $6.9 billion last year. Albeit, $46.4 billion in sales were still conducted on the black market, meaning there’s a very significant opportunity for legal businesses to attract under-the-table consumers in the years to come. This shouldn’t be too difficult with more and more U.S. states and countries considering legalization.
If investment firm Cowen Co. is right and legal marijuana sales can grow to $50 billion by 2026, then the rally in marijuana stocks could be just beginning.
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