Start the conversation
Comment on This Story
Or to contact Money Morning Customer Service, click here.
The medical marijuana industry is set to grow 183% over the next three years, and we're going to show you the best marijuana stock to buy to profit from that growth...
According to New Frontier Data's 2017 Cannabis Industry Annual Report, medical marijuana sales could soar from $4.7 billion last year to $13.3 billion by 2020. That would be a 183% increase in just three years.
The cannabis industry is also expected to employ 500,000 people by 2021. Right now, the industry only has between 165,000 and 230,000 jobs.
But one niche sector of the marijuana industry - hydroponics - is also growing. Hydroponics involves growing cannabis plants in mineral- and nutrient-rich water. This is revolutionary since it doesn't require soil, which has long been critical to the growing process.
"This method means no mess and, more importantly, no pesticides," Money Morning Director of Technology & Venture Capital Research - and marijuana expert - Michael A. Robinson said. "That's a key consideration for green consumers."
But it doesn't just benefit green consumers. The hydroponics sector could boost today's marijuana stock pick in 2018...
How Today's Marijuana Stock to Buy Will Benefit from Hydroponics
Michael's marijuana stock recommendation has become a big player in hydroponics, which is becoming a mainstream method for cannabis growers.
Tech research firm Manifest Mind LLC says the global value of hydroponically grown plants like marijuana will reach $24 billion next year. That would be a 20.3% increase from $19.95 billion in 2015.
BREAKING: New Legislation Could Turn Tiny Pot Stocks into Millions. Click Here...
The surge in hydroponics' popularity is coming from more people moving away from rural areas - with rich farmland and soil - into urban areas.
Data from the World Health Organization (WHO) shows the global urban population made up 54% of the world population in 2014. Its data projects that the world's urban population will grow at an annual rate of 1.84% through 2020.
"Populations are increasingly concentrated in cities and even mega-cities," Michael noted. "As people trade the countryside for the cityscape, they'll have to grow their favorite herbs indoors using hydroponics."
And Michael's pick for the best marijuana stock to buy today is one of the foremost leaders of this hydroponics revolution...
Back in 2015, his pick was one of the first gardening companies to buy a firm specializing in growing hydroponic cannabis. The acquisition was this company's most expensive purchase in 17 years - a move that made media outlets call the company's CEO "controversial."
Now this company is laughing all the way to the bank. This firm generates about $250 million in revenue from its hydroponics business alone, according to a Bloomberg report,
And this company expects its hydroponics business to generate $1 billion in sales, which will be a boon to its shareholders...
