Thousands are lining up at the doors...
Businesses are expecting a watershed year for profits...
And marijuana investors are absolutely jubilant.
Why? Because the state of California just officially legalized cannabis yesterday (Jan. 1).
Don't worry - it's not too late to profit from California's legal cannabis market.
In fact, we've identified three investments that are likely to benefit from the Golden State's cannabis revolution.
And at the end of this article, you can find out how to get our 89-page "bible of weed investing," The Roadmap to Marijuana Millions. For a limited time, we're giving away the details for free.
California "Pot Play" No. 1: Microsoft Corp.
Money Morning Director of Technology & Venture Capital Research Michael A. Robinson has long recommended tech industry leader Microsoft Corp. (Nasdaq: MSFT) as a "starter" pot stock.
Not only is Michael our Director of Technology and Research, but he's also our pot stock expert - and for good reason.
This time last year, Michael published his first "weed investors' bible." At the time, it was packed with 30 of his absolute favorite plays in the still-booming legal cannabis sector.
Over the past year, this section of his Nova-X Report portfolio has seen 10 double-digit winners and eight triple-digit winners... 291% gains... 193.3%... 189.5%; one recommendation even saw peak gains of 1,588%.
So when Michael says something is a top-notch marijuana play that should be in every portfolio, we listen.
Most think of Microsoft as solely a technology company - and it is. However, the Fortune 500 tech giant also has its hands in the marijuana industry.
Over the past few years, Microsoft has made a huge shift toward developing legal marijuana compliance software that governments and businesses can't operate without - making it a new leader in the legal cannabis space.
"Microsoft is working... to make available to state and local governments the software they need to develop ways to track compliance," Michael told his readers on Oct. 18. "Strict compliance is a way to make legal weed safe for consumers in a regulated marketplace and palatable to 'law-and-order' types in governments and legislatures."
The software it has created will allow governments and entrepreneurs to monitor the distribution of cannabis "from seed to sale" and ensure compliance along the way.
But this move from Microsoft is about much more than keeping cannabis companies on the straight and narrow.
"In one swoop, Microsoft has done nothing less than legitimize the cannabis trade in the eyes of many," said Michael.
"The company will begin by marketing the software to government employees, but hasn't ruled out marketing through dedicated cannabis events," Michael added. "The Microsoft logo flying proudly at a conference packed with marijuana growers and distributors would be a huge leap forward for the industry."
Microsoft gets you low-risk entry into the legal cannabis sector and a respectable 2.00% dividend yield. Plus, it has a VQ Score of 3.
"This is one to buy now and build out on dips," says Michael.
California "Pot Play" No. 2: Scotts Miracle-Gro Co.
Scotts Miracle-Gro Co. (NYSE: SMG) has been a staple in our pot stock portfolio since 2016 - but we're ramping up our recommendation in the new year.
It's already poised for a 15% sales surge in 2018, but California's legalization just set it up for a serious new catalyst.
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You see, Scotts is not just a worldwide leader in lawn and gardening care, it's also a worldwide leader in hydroponics equipment.
Hydroponics is the method of growing plants without soil by using mineral nutrient solutions in a water solvent - a popular and highly effective way of growing cannabis, especially in densely populated areas.
Hydroponic systems only require about 10% of the water needed to produce the same volume of plants as conventional methods, according to Farmers Weekly, making it the ideal way to save water.
California's new legalization came with a caveat for cannabis growers: new water regulations.
These new laws will force cannabis companies to completely rethink and rework the way they grow their plants.
For California companies looking to comply with the latest regulations, turning to hydroponics will be a no-brainer. And with a $565 million stake in the industry, Scotts Miracle-Gro should see a huge boost in sales on top of an already excellent year for the company.
Make no mistake: A surge in sales revenue will easily translate to gains in the stock price. You definitely want to own shares of SMG now because you may not see them at a better price.
California "Pot Play" No. 3: ETFMG Alternative Harvest ETF
The ETFMG Alternative Harvest ETF (NYSE Arca: MJX) is the first New York Stock Exchange-listed marijuana ETF.
It just went live last week, so you can still benefit from first-mover advantage.
This ETF was previously targeted toward Latin American real estate, but recently shifted to include 30 different national and international companies involved in the legal cannabis space.
Some companies in this basket of stocks, like SMG, are "pick-and-shovel" plays that allow you to invest indirectly in the industry.
Others, like cannabis biotech firm Insys Therapeutics Inc. (Nasdaq: INSY), are direct plays in marijuana businesses that offer investors the opportunity for incredibly fast gains.
Indeed, over the past week, MJX has gained 13.45%.
Many of the companies in this ETF are ones we've been recommending for years. And while MJX is a nice way to grab a huge chunk of the marijuana industry in one go, we don't see it moving nearly as fast as some of the individual companies Michael has shown readers.
To get access to Michael's model pot portfolio, read on...
Gain Access to 30 of the Best Pot Stocks of 2018
After nine months of exhaustive research, Michael and his team found the best, most lucrative, and fastest-growing legal pot stocks in America.
They're all in the updated 89-page "bible of weed investing," The Roadmap to Marijuana Millions: Phase II. And for a limited time you can get all the details for free.