Although it probably took a bit longer than cannabis enthusiasts and marijuana stock investors would have liked, the weed industry has been validated following the passage of the Cannabis Act in Canada and the subsequent legalization of adult-use sales on Oct. 17. No longer viewed as taboo, the pot industry is open for business.
According to a recently released report from Arcview Market Research and BDS Analytics, global cannabis sales are set to soar from $12.8 billion in 2018 to as much as $31.3 billion by 2022. Meanwhile, investment bank Cowen Group is being even more aggressive in calling for $75 billion in worldwide sales by 2030.
That’s a lot of money, and it raises the question: “Where will it end up?”
The first-ever marijuana ETF has been a popular choice among investors
It’s this uncertainty about a very new industry that’s still trying to find