Marijuana is one of the fastest-growing industries in the world. In fact, sales are expected to skyrocket from $6.7 billion in North America in 2016 to $21.8 billion in 2020.
That's an increase of 225% in just four years, which is why we are watching the top pot stocks in 2017.
But because marijuana is still illegal under federal law, these are not firm recommendations. Rather, this a watch list as more U.S. states and Canada legalize marijuana in some form. Many marijuana stocks are still speculative investments.
And the first cannabis stock on our watch list has climbed nearly triple digits so far in 2017...
Top Pot Stocks in 2017 No. 5: mCig Inc.
The first marijuana stock on our watch list today is mCig Inc. (OTCMKTS: MCIG). The company was founded in 2010 and is headquartered in Nevada.
MCig makes, markets, and distributes vaporizers, cigarettes, and smoking accessories in the United States. Through its Rollies LLC brand, mCig sells tubes designed for marijuana smoking.
It also constructs commercial and modular buildings to help cannabis growers.
The MCIG stock price has been volatile over the last 52 weeks, trading between $0.03 and $0.50 per share. But so far in 2017, the MCIG stock price has climbed over 75%.
Top Pot Stocks in 2017 No. 4: GW Pharmaceuticals
GW Pharmaceuticals Plc. (Nasdaq ADR: GWPH) was founded in 1998 and is based in the United Kingdom.
GW discovers, develops, and commercializes cannabinoid prescription medicines.
One of its most well-known medicines is Sativex, which was the first cannabis-based medicine to be licensed in the United Kingdom. GW is also developing another medicine called Epidiolex, which could treat rare epilepsy disorders.
BRILLIANT: Average Americans Are Becoming Marijuana Millionaires
But because marijuana is classified as a Schedule I drug in the United States, it's difficult for GW to research, develop, and sell new medicines.
However, with North America rapidly legalizing marijuana, cannabis could eventually be reclassified. That would make it easier to study marijuana and develop new medicines.
So far in 2017, the GWPH stock price has climbed 15.05%. In comparison, the Dow Jones Industrial Average is up just 1.35%.
Top Pot Stocks in 2017 No. 3: General Cannabis Corp.
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General Cannabis Corp. (OTCMKTS: CANN) offers diverse services within the marijuana industry.
First, it purchases and leases space for crop growing. General Cannabis also offers security services that include video surveillance and the transporting of cash.
Outside of leasing space and providing security, General Cannabis also designs clothes and offers consultation services.
Over the last 12 months, the CANN stock price has climbed over 536%.
Most investors wouldn't consider the next two stocks on our watch list marijuana stocks. But these companies are aggressively targeting the lucrative marijuana industry. And that gives these two stocks tremendous upside...
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Top Pot Stocks in 2017 No. 2: Microsoft Corp.
Microsoft Corp. (Nasdaq: MSFT) is known for its software and cloud computing.
And Microsoft is using its advanced technology to service the marijuana industry...
In June 2016, KIND Financial partnered with Microsoft to run its software through Microsoft's cloud. KIND uses technology to allow safe and secure transactions in the marijuana industry.
KIND also uses its technology to help companies stay compliant.
Microsoft already expects to generate $20 billion in commercial cloud revenue by 2018, and that can climb higher as more states legalize marijuana and need the service.
Over the last 12 months, the MSFT stock price has climbed 28.47%. Microsoft also gives its shareholders a dividend of $0.39, which is a yield of 2.46%.
Top Pot Stocks in 2017 No. 1: Scotts Miracle-Gro.
Scotts Miracle-Gro Co. (NYSE: SMG) makes products many Americans use on their yards and flower/vegetable beds.
But Scotts is also becoming known for its investments in the marijuana industry...
In 2015, CEO Jim Hagedorn invested in two companies that sell fertilizer and soils for cannabis plants. He also invested $120 million in 2016 for a 75% stake in hydroponics equipment company Gavita International.
Over the last year, the SMG stock price has climbed over 42%. Scotts also pays its shareholders a dividend of $0.50 per share, which is a yield of 2.20%.
Marijuana Investing: What You Need to Know... The legal marijuana market is going ballistic. Right now marijuana stocks are on fire, with peak gains quadrupling in value. And these are mostly small companies trading for under $10. Click here to learn more...