Excitement has been budding for years in the legal cannabis space, and we’ve begun to see that translate into tangible results.
In the U.S., Oklahoma recently became the 30th state to legalize medical marijuana, while nine of these 30 states have also approved the use of recreational weed. To our south, Mexico legalized medical pot back in June 2017. And to our north, Canada stands ready to become the first industrialized country in the world to legalize adult-use cannabis. It’s no wonder that cannabis research firm ArcView is predicting compound annual sales growth of 28% in North America through 2021.
Marijuana stocks couldn’t catch a break in July
However, moving marijuana from an illicit channel to a legal one won’t necessarily be without its headaches — and that’s certainly reflective in the underlying valuations of marijuana stocks. Even though the group as a whole has had