Few industries today can match the growth rate of legal cannabis, and marijuana stock investors have certainty taken notice. A quick scan of the largest marijuana stocks (those with market caps of $200 million, or higher) finds that many have doubled or tripled in value over just the past year.
Why such bullishness from investors? Look no further than the rapidly changing public opinion surrounding legal weed and the estimated sales growth.
According to an April survey conducted by CBS News, an all-time high 61% of respondents want to see recreational pot legal across the country. This coincides well with Gallup’s October 2016 finding that 60% of Americans want to see cannabis legal nationally. Support for medical marijuana is even higher, with a recent Quinnipiac University poll finding an overwhelming 94% of those surveyed in favor of patients having legal access to cannabis.