It's been touch and go for the stock market, I admit, but the global advancement of cannabis took some significant steps forward over the past few weeks.
This likely points to bigger gains for weed stocks, like the ones in my Nova-X Report Roadmap to Marijuana Millions model portfolio, just around the corner.
The momentum is unstoppable.
Earlier this week, I told my paid-up Nova-X Report readers that popular sentiment has moved much too far in favor of legalization of marijuana for anything - even Jeff Sessions - to stop it.
A Gallup poll last year showed 64% of Americans are in favor of marijuana legalization; more states are setting up legalization campaigns.
And none of this even takes into account the multibillion-dollar potential to be unlocked when the entire nation of Canada legalizes cannabis this summer, as we expect it will.
And just when it seems like things couldn't get much better... they do.
Because now we hear that legal weed will be bigger than wine.
Just take that in for a moment - because it looms large among a couple of pot-bullish developments I want to tell you about this week...
[mmpazkzone name="in-story" network="9794" site="307044" id="137008" type="4"]
$50 Billion Now... or $50 Billion Soon
I've just seen some astounding projections.
By 2030, according to a new report from research firm Cowen & Co., U.S. legal cannabis sales are set to reach $75 billion.
Compare that to the roughly $60 billion in U.S. sales of wine today.
BREAKING: New Legislation Could Turn Tiny Pot Stocks into Millions. Click Here...
Not only that, but Cowen found that in states with legal weed, binge alcohol drinking rates declined compared with states that only had medical marijuana provisions or none at all.
And Cowen's projections could be an underestimate.
While Cowen forecasts the legal marijuana market to be worth $50 billion by 2026, beverage giant Constellation Brands Inc. (NYSE: STZ) already believes the sector is worth $50 billion today.
And as the pot industry attracts new customers - including more women and baby boomers - it's diversifying its products to account for their shifting tastes.
Women surveyed in a January report by marijuana delivery platform Eaze said they're spending 20% more each month on marijuana products, thanks to better access and safety. This higher spend is expanding well beyond traditional dried flowers, which Eaze CEO Jim Patterson said accounted for about a third of its total sales in recent months.
Instead, consumers are buying more new products, like buttonless vaping pens, edibles, and pre-rolled joints, as well as offerings that include cannabidiol, or CBD. That's a non-psychoactive component of cannabis aimed at consumers seeking to treat physical pain or anxiety who don't want to get high.
As I said, this is all good news for the bottom line of pot stocks everywhere - and our model Marijuana Millions portfolio components in particular.
Diversification of product lines means more ways to bring in revenue - and to add to share-price gains as more and move investors discover the profit potential.
As more and more folks "turn on" to easily available legal cannabis, a "snowball effect" of growth begins to take shape... and pay off.
And widening cannabis acceptance and adoption brings me to the next intriguingly bullish development of the past few days.
John Boehner Goes All In on Weed
Former U.S. House Speaker John Boehner (R-OH) announced Wednesday that he's joining the advisory board of Acreage Holdings, a company that cultivates, processes, and dispenses cannabis in 11 states.
And he's being joined there by former Massachusetts Gov. Bill Weld (R-MA). Weld also ran in 2016 as the vice presidential candidate on the Libertarian Party ticket.
This marks a huge step toward mainstream acceptance of legal cannabis - millions of people voted for these two.
Boehner's move here is especially significant, because the former congressional leader has long been a staunch opponent of marijuana legalization.
His ideas about legal cannabis have since "evolved," he tweeted. He now wants to see the federal government change its current classification of cannabis (as a "schedule 1" dangerous drug with no medical benefits).
"I'm convinced de-scheduling the drug is needed so we can do research, help our veterans, and reverse the opioid epidemic ravaging our communities," Boehner wrote in a separate tweet.
In five or 10 years' time, when the legal marijuana sector is worth tens of billions of dollars and pot is far more accessible than it is even today, I think we'll look back at Boehner's change of mind, or, more to the point, the social metamorphosis it represents, as a turning point - and a monster profit catalyst.
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...
About the Author
Michael A. Robinson is a 36-year Silicon Valley veteran and one of the top tech and biotech financial analysts working today. That's because, as a consultant, senior adviser, and board member for Silicon Valley venture capital firms, Michael enjoys privileged access to pioneering CEOs, scientists, and high-profile players. And he brings this entire world of Silicon Valley "insiders" right to you...
- He was one of five people involved in early meetings for the $160 billion "cloud" computing phenomenon.
- He was there as Lee Iacocca and Roger Smith, the CEOs of Chrysler and GM, led the robotics revolution that saved the U.S. automotive industry.
- As cyber-security was becoming a focus of national security, Michael was with Dave DeWalt, the CEO of McAfee, right before Intel acquired his company for $7.8 billion.
This all means the entire world is constantly seeking Michael's insight.
In addition to being a regular guest and panelist on CNBC and Fox Business, he is also a Pulitzer Prize-nominated writer and reporter. His first book Overdrawn: The Bailout of American Savings warned people about the coming financial collapse - years before the word "bailout" became a household word.
Silicon Valley defense publications vie for his analysis. He's worked for Defense Media Network and Signal Magazine, as well as The New York Times, American Enterprise, and The Wall Street Journal.
And even with decades of experience, Michael believes there has never been a moment in time quite like this.
Right now, medical breakthroughs that once took years to develop are moving at a record speed. And that means we are going to see highly lucrative biotech investment opportunities come in fast and furious.
To help you navigate the historic opportunity in biotech, Michael launched the Bio-Tech Profit Alliance.
His other publications include: Strategic Tech Investor, The Nova-X Report, Bio-Technology Profit Alliance and Nexus-9 Network.