The marijuana industry has been growing at a lightning-fast pace for years now, so it’s not one bit surprising to see marijuana stock investors flocking to the “green rush.”
Since 2012, voters in eight states have legalized recreational marijuana, while 28 states have legalized medical cannabis over the past 21 years. States like California are expected to see total cannabis sales (recreational and medical) approach $6 billion to $7 billion annually, leading to around $1 billion in annual tax revenue for the state. Colorado, which was one of the first two states to legalize adult-use pot back in 2012, tallied more than $1.3 billion in legal weed sales in 2016 and nearly $200 million in tax and licensing revenue.
All eyes on medical marijuana
While the focus for marijuana proponents has long been making it legal