3 Small-Cap Marijuana Stocks to Get on Your Radar | Cannabis Stock Picks
When it comes to the fastest-growing, and riskiest, industries in the stock market, none takes the cake like legal marijuana.
According to cannabis research firm The Arcview Group, legal sales in North America grew by 34% in 2016 to $6.9 billion, and they’re on track to grow by 26% annually through 2021 to nearly $22 billion. Mind you, an estimated $46.4 billion in weed sales were conducted on the black market last year, giving legal channels ample opportunity to bring in new customers and revenue in the years to come. These rapidly growing sales figures have been a big reason that marijuana stocks have been popular investments of late.
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Of course, we have to give credit where credit is due: the public. If not for the rapidly changing perception of marijuana among the public, it’s unlikely that cannabis sales would be expanding as quickly as they are. According to CBS News, support for legalizing pot nationally has more than doubled to 61% in April 2017 from 27% all the way back in 1979. The higher the percentage in favor of legalizing marijuana, presumably the more pressure that’ll be placed on lawmakers in Washington to change its scheduling.
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