With the recent legalization of recreational marijuana in Michigan, 10 U.S. states plus Washington D.C. now offer recreational weed for those who choose to consume. Add that to our Northern neighbors in Canada legalizing marijuana nationally, and the weed industry stands to flourish and grow.
Recreational and medical cannabis have ushered in a wave of cannabis stock options as a direct result of the economic success seen in legalized states. Cannabis stock options have been rising steadily, with consumption being abundant to the point where demand is starting to outstrip supply. This is good news to those who stand to profit from this skunky green wave, growers, sellers, and investors alike. Global legal cannabis spending is expected to expand and grow 230% over the next year. Marijuana stocks are available on the New York Stock Exchange (NYSE) as of 2018 and many investors are chomping at the bit to be a part of this successful, growing industry.
While some marijuana stocks are still penny-traded OTC options, others, including corporate growing operations and chain dispensaries, are seeing record profits and gains for investors. Canopy Growth Corp. is operating with a market growth cap of 6.29 billion dollars and is poised to grow further. Aurora Cannabis Inc., based out of Canada, recently acquired their major competitor MedReleaf in a quarter of a billion dollars deal which is claimed to be the largest and most expensive marijuana-related deal to date. This merger is expected to produce and provide 570,000 kilograms of cannabis products within the next year, and Aurora Cannabis Inc. has a present market cap of 4.1 billion dollars.
Not all successful marijuana-related stocks are a result of recent legalization. Terra Tech Corp has been an agricultural company for quite some time, and has incorporated both medicinal and recreational marijuana into their productions. They reported earnings of 8.6 million dollars as of March 2018 and are expected to grow further as the wave of legalization spreads. Terra Tech Corp has been publicly traded for several years and has seen steady growth and high projected growth thanks to medical and recreational legalization.
While the recent market has seen some fluctuation, many market experts and marijuana enthusiasts alike predict high levels of growth. Now is an excellent time to invest in this booming market and participate in a major economic and cultural change that is sweeping over many states and countries. Marijuana stocks are set to have exponential financial gain as more and more areas of the globe end marijuana prohibition and open up their domestic and international markets to the intense and surprisingly fast growing professional cannabis company public offerings. These recent developments and legalization changes are set to get you, and your stock holdings, to get as high as the clouds.