Forward-thinking investors know the marijuana industry is a major profit opportunity. Sales in North America topped $6.7 billion in 2016, and sales are expected to climb to $20 billion or more by 2020.
That's a potential increase of 198% in just four years.
But finding the top marijuana stocks to watch isn't easy, as many pot stocks trade on over-the-counter (OTC) markets.
That's why Money Morning identifies the news each week that could move cannabis stock prices.
And the first stock on our watch list this week is North American Cannabis Holdings Inc. (OTCMKTS: USMJ).
North American Cannabis has partnered with Puration Inc. (OTCMKTS: PURA) to launch CBD-infused bottled water, according to MMJReporter.com.
USMJ's EVERx brand develops CBD products for sports, wellness, and fitness, but most products are still in development.
This is the first product commercially launched under the EVERx brand name.
The product launch for the CBD water will be on March 2, 2017, at the Arnold Sports Festival in Ohio. There will be over 18,000 athletes competing in 70 different events.
So far in 2017, the USMJ stock price is up over 22%.
Special Report: Cannabis Is the Gold Rush of the 21st Century - 30 Stocks to Invest in Now
Considering the Dow Jones Industrial Average has only climbed 3.74% in 2017, that's impressive.
But these next two pot stocks have performed even better.
One has climbed over 26%, and the other has climbed more than 32% just in 2017...
Top Marijuana Stocks to Watch Now
[mmpazkzone name="in-story" network="9794" site="307044" id="137008" type="4"]
According to MarijuanaStocks.com, VPR Brands LP (OTCMKTS: VPRB) has entered into an exclusive distribution agreement with Alpha-Cat.
Alpha-Cat is the creator of AlphaPuff, which is a deluxe smoking kit that includes a:
- Grinder
- Portable water pipe
- Glass stem
- Cleaning tool
Through the partnership, VPR Brands will introduce the product through its distribution pipeline. VPR Brands will also showcase AlphaPuff at cannabis trade events.
So far in 2017, the VPRB stock price has climbed over 26%.
Our final stock to watch this week is Future Farm Technologies Inc. (OTCMKTS: AGSTF).
On Feb. 9, Future Farm announced it closed a deal to acquire a 15-acre parcel of land in Redland, Fla. Redland is designated for the legal cultivation and dispensing of cannabis.
If it's fully licensed, Future Farm will be able to develop all 15 acres for cannabis crops.
This is bullish news for AGSTF shareholders, as 71% of Florida voters voted to approve medical marijuana in November 2016. According to MarijuanaStocks.com, medical marijuana sales in Florida are projected to reach $1.8 billion by 2020.
So far in 2017, the AGSTF stock price has climbed over 32%.
Want to Invest in Weed and Don't Know Where to Start? Well over half of the country already has marijuana legally available in some form. Eight states plus our nation's capital have made it completely legal to anyone over the age of 21. And the marijuana stock market is preparing to take off. Watch this short video and see whether jumping on this moon-bound stock rocket is right for you.