A few cannabis growers could top $300 million in annual sales by next year.
The marijuana industry is growing like a weed in North America. ArcView, one of the leading cannabis research firms, has suggested that legal weed could grow by 26% on an annual basis between 2016 and 2021, leading to nearly $22 billion in annual sales. Even with regulatory restrictions, there’s presumably a lot of money to made, which is why investors have piled into marijuana stocks and pushed their valuations substantially higher.
Of course, no two cannabis markets are alike. For instance, even though U.S. legal weed sale are expected to soar in 2018 as a result of California opening its doors to adult-use sales, the environment isn’t conducive to investor success. The federal government has dug in its heels and refused to budge on its Schedule I classification — this means pot is wholly illegal, prone to abuse, and has no recognized medical benefits — and Attorney General Jeff Sessions is effectively waging war on the industry.Meanwhile, Canada is leading the charge in pot progressivism. Canada legalized medical cannabis back in 2001, and it’s on track to possibly legalize the sale of recreational pot to adults by this summer. [Read More @ Motley Fool]