Canada is set to legalize marijuana in 2018, an event that could lead to marijuana sales skyrocketing by 400%. And this Canadian marijuana stock is primed to grow alongside those soaring sales...
Thankfully for American investors, there's a way to get in on the profits.
Today, we wanted to make sure Money Morning readers knew all about the Canadian marijuana legalization efforts that could send this Canadian pot stock price up double digits...
What Investors Need to Know About Canadian Marijuana Legalization
A key part of Justin Trudeau's 2015 campaign for prime minster was to legalize all marijuana use.
The majority of Canadian citizens wanted cannabis legalization, as a 2016 CTV News/Nanos Research poll found 69% of participants either supported or somewhat supported legalized recreational marijuana.
And Trudeau is keeping his promise by following the will of the people.
By July 2018, the Canadian government is expected to legalize recreational marijuana. This is going to be a boon for legal sales, which are expected to climb from roughly $900 million in 2016 to $4.5 billion in 2021.
That's an increase of 400% in just five years.
BREAKING: New Legislation Could Turn Tiny Pot Stocks into Millions. Click Here...
And because of this massive increase in sales, we wanted to let our readers know about a marijuana stock in Canada that could net double-digit profits.
Before the law takes effect, this is the Canadian marijuana stock you need to know about right now...
Growing Canadian Marijuana Sales Makes This Your Next Profit Opportunity
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Aphria Inc. (OTCMKTS: APHQF) produces, supplies, and sells medical marijuana in Canada. The company makes cannabis capsules that have extracted cannabis oil in them for pain management.
It also offers oral solutions used through droppers, as well as cannabis oil that can be inhaled through a pre-filled vaporizer pen.
The stock is listed on Canada's exchange, but American investors can buy shares of this company through an over-the-counter market (OTCMKT).
The prices of the two stocks are different (the Canadian price is roughly $1.50 more), but as the Canadian marijuana stock price rises, the OTCMKT stock price will also climb.
And just through selling medical marijuana, the company's revenue has been skyrocketing...
Revenue in Q4 2017 alone was up 105% to $5.7 million (CAD) compared to the same time a year ago.
And for its fiscal year that ended May 31, 2017, revenue climbed 142% from the previous year to $20.4 million (CAD).
On top of that, its fiscal year net income totaled $4.2 million (CAD), an increase of 950% from its $400,000 in net income from the previous fiscal year.
And when the company can sell more than just medical marijuana, profits can really take off. Aphria raised $100 million in April to expand into selling recreational marijuana, according to Globe Newswire.
We don't have a specific estimate for how much money Aphria can make if it sells both medical and recreational cannabis. But as we mentioned earlier, legal marijuana sales in Canada are expected to climb from $900 million in 2016 to $4.5 billion in 2021.
Aphria will take part in that 400% sales surge, and this huge jump in legal cannabis sales has analysts bullish on the Aphria stock price.
For APH (the Canadian stock symbol), 88% of the analysts who cover Aphria recommend it as a "Buy" or "Overweight."
Financial firm Clarus Securities Inc. also has a one-year price target of $10.37. From today's opening price of $7.51, that's a 38.08% increase.
And when APH goes up, its OTC counterpart APHQF should go up in price as well.
A Pot "Bombshell" Just Hit Canada: For our neighbors to the north, it's shocking news. But it could be the best news of all time for marijuana stock investors. In fact, this single "bombshell" event could unleash a new pot stock boom that will blow the doors off anything we've seen up to this point. And by putting a couple of hundred bucks into a handful of tiny Canadian weed companies, you could pocket life-changing gains - turning a few hundred bucks into a fortune overnight. Watch this now to get all the details...