In case you haven’t noticed, marijuana stocks have been practically unstoppable over the past year. Even with a recent pullback, many of the largest pot stocks (i.e., those with market caps in excess of $200 million in market cap) have doubled or tripled in value. Pushing this budding industry higher is a combination of rapidly rising legal weed sales and a dramatic shift in consumer opinion.
In terms of sales, leading cannabis research firm ArcView is estimating a compound annual growth rate of 26% between 2016 and 2021 in North America. If the projection proves accurate, this will push legal pot sales to almost $22 billion, giving investors plenty of reason to be excited about the profits that growers, distributors, and retailers could generate.
As for consumers, polling has consistently shown that a record number of Americans