Marijuana stocks are one of the newer classes of equities in the stock market today. Made famous in 2013 and 2014, marijuana stocks created a name for pushing the boundaries of society. After Canada fully legalized medical marijuana across the country, the U.S. saw its cannabis boom starting with California. However, once recreational marijuana became legal in Colorado, the cannaboom officially began.
When it comes to marijuana stocks today, there’s a lot more going on now than there was in 2014. New laws were made, and more states and countries have legalized recreational pot. One of the hot buttons in the U.S. is the federal legalization of marijuana. Despite more recent trends, marijuana stocks have attracted investment from all corners of the stock market. The industry even saw billions in investment from blue-chip companies. These included the likes of Molson Coors, Constellation Brands, and even Altria, to name a few. With more than just a “smokable” product, the applications have expanded.
Why Marijuana Stocks?
Edibles, waxes, tinctures, oils, etc., are all very different variations of cannabis products that have hundreds of public companies looking to dominate. Marijuana stocks go beyond retail as well. Many of these companies have focused on the biotechnology applications of the drug. CBD, CBG, and a host of other cannabinoids were discovered as viable applications for treating specific illnesses.
The versatility of cannabis has also reached the industrials. It is through the use of hemp and hemp-derived products. Building materials and even health supplements have cannabis ingredients. The fact that the market isn’t entirely legal continues to run the narrative that marijuana stocks haven’t reached their full potential. No matter which side of the fence you’re on, pot stocks carry a high-risk, high-reward sentiment in the stock market today. Investors are looking for ways to take advantage of and make money with marijuana stocks.
2 Cannabis Stocks To Watch In October 2023
Are these cannabis stocks on your mid-October 2023 watchlist?