Which Marijuana Stock Will Be Next to Reach a $1 Billion Valuation? | The Motley Fool
This article was updated on Oct. 5, 2017 and originally published on May 1, 2017.
Both the marijuana industry and marijuana stocks are seemingly unstoppable at the moment.
When it comes to the marijuana industry, sales in the North American market grew by 34% to $6.9 billion last year, according to research firm ArcView. This exceptional year-over-year revenue increase is the result of organic growth within legal U.S. states (as well as medical cannabis use growth in Canada, where medical pot has been legal for 16 years), and the expansion of legal weed to new U.S. states. Last year alone, residents in four states voted to legalize recreational marijuana, while five new states legalized access to medical cannabis.
Image source: Getty Images.
As for marijuana stocks, they've been soaring. Over the past year, many are up well over 100% as investors begin to digest just how large an opportunity cannabis could be. For added context, $46.4 billion in marijuana sales were conducted under-the-table last year in the black market per ArcView, meaning there's still a massive opportunity to draw this business into the legal realm, assuming states and/or the federal government, along with the Canadian government, change their current stances on pot.
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