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Canada will legalize marijuana on Oct. 17, and investors are asking us for more information on the marijuana penny stocks to watch ahead of full legalization.
It's not surprising to see big moves for stocks in emerging industries. Cannabis stocks are no exception, and we saw big moves all summer, especially after each company announced advancements in its commercialization.
When it comes to ETFs in the marijuana space, all you need to do is look at ETFMG Alternative Harvest ETF (NYSEArca: MJ), the go to ETF for pot stocks.
What an incredible time to own legal cannabis shares - particularly these shares.
The marijuana story is growing like a weed.
Not only do 61% of Americans now support legalization, states are moving to legalize it with hopes for significant new revenue stream.
There’s so much excitement with marijuana, it’s impossible not to trip over opportunity.
Any time we trade an asset, we need to know if money is flowing in or out.
After all, if it’s flowing out, that could be an indication of downside. If it’s flowing in, that simply means there’s potential upside.
With the world quickly catching the marijuana buzz, it only makes sense that some of the biggest companies in the world would want a piece of the potential.
Hot out of the IPO gate, Tilray Inc. (TLRY) has become one of the hottest pot stocks to own.
Technical analysis offers us a glimpse of investor psyche, allowing us to view the very fear and greed generated in the crowd.
In late June 2018, the Canadian Senate overwhelmingly passed Bill C-45, also known as the Cannabis Act, which legalized the use of recreational marijuana.
We’ve all heard about the marijuana growth potential in the U.S. and Canada.
If you stretch a rubber band too far, too tight, what happens?
It snaps back, right?
Well, what if I told you the same idea can be applied to marijuana stocks?
North America is experiencing one of the biggest economic booms in history.
All thanks to marijuana.
It’s 2018 and Pot is now legal in California.
Advocates have been pushing for full legalization for well over a decade.
The State resisted...till now!
A Special Report from our Associates at Money Morning:
Currently, 29 states and the District of Columbia have some form of medicinal marijuana legalization. And as more states legalize cannabis for medicinal purposes, we want to make sure Money Morning readers know about the top medical marijuana stocks to watch.
Tell me something.
If you had the opportunity to own Facebook (FB), Amazon (AMZN), Netflix (NFLX) and Google (GOOG) how much would you be willing to pay? To own one share of each of those stocks together, would you be willing to pay $2,008?
Whether we like it or not, legalization is happening. And it’s not stopping.
In fact, the story is hotter than ever. And related stocks won’t wait around.
In 2016, the U.S. marijuana industry generated revenue of $6.7 billion.
This could open the floodgates of opportunity in marijuana stocks.
In late June 2018, the Canadian Senate overwhelmingly passed Bill C-45, also known as the Cannabis Act, which legalized the use of recreational marijuana. While it’ll now take Canadian provinces another eight to 12 weeks to prepare for likely demand, the support opened a sizable market for the country.
Canada could see millions, if not billions in sales.
On January 1, 2018 Yvonne DeLaRosa Green made history, and you’ve probably never heard of her. She’s the owner of 99 High Tide Collective, a cannabis dispensary in Malibu, and was awarded the first legal cannabis business license issued in Los Angeles County. She was the lucky one who got hers first, but now the floodgates have busted wide open for others to follow her throughout the entire State of California.
Marijuana may still be one of the most controversial topics.
But it’s quickly proven itself to be one of the most profitable.
Over the last three years:
- Canopy Growth (TWMJF) ran from $2.50 to $37
- OrganiGram Holdings (OGRMF) ran from 25 cents to $4.70
- Kush Bottles (KSHB) ran from $1 to $8
- Pot Network Holdings (POTN) ran from less than a penny to 64 cents
- GW Pharmaceuticals (GWPH) ran from less than $40 to $140