The marijuana industry, and marijuana stocks for that matter, have been expanding by leaps and bounds over the past two decades. What was once a completely taboo industry has become a thriving source of legal growth, at least in some states.
According to a Gallup poll from the mid-1990s, just 25% of respondents were in favor of seeing recreational weed legalized nationally. Mind you, this was during the height of the War on Drugs campaign in America. As of 2016, an all-time high of 60% of respondents wanted to see cannabis legalized for adult use across the country, per Gallup. An even larger figure, 93%, wants medical cannabis legalized nationally, according to a recent Quinnipiac University poll.
This shift in opinion is what’s allowed the marijuana industry and pot stocks to expand as rapidly and consistently as they have. Today, 28 states have legalized cannabis for medical