The North American marijuana industry is on fire, and marijuana stock investors have clearly taken notice. A majority of pot stocks with a market cap north of $200 million have seen triple-digit percentage returns over the trailing 12 months.
Cannabis research firm ArcView projects that legal North American weed sales (recreational and medical) will catapult from $6.9 billion in 2016 to more than $22 billion by 2021. With an estimated $46.4 billion in sales conducted on the black market last year in North America, the opportunity for businesses to move consumers toward legal channels appears to offer a sustainable growth trend.
Yet, expansion isn’t a given. Despite a record number of Americans wanting to see both recreational and medical pot legalized, the U.S. federal government has dug in its heels on any efforts to