My team just got back to the States from the land of unlimited pot stock potential: Canada.
Organizers estimated some 15,000 growers, researchers, retailers, policymakers, industry insiders, and enthusiasts attended a "double-header" – a business conference and cannabis expo that proved to be the biggest single-day weed-centric event in Canada's history and the largest in North America today.
Eric Costen, director general of Canada's Cannabis Legalization and Regulation Secretariat, opened the proceedings with a bang when he said, "The eyes of the world are watching Canada," and reaffirmed Parliament's commitment to a June 7 legalization vote.
The bill, which has the enthusiastic backing of Canadian Prime Minister Justin Trudeau, is widely expected to pass with flying colors.
Once the Queen's representative, Gov. General Julie Payette, grants royal assent, it'll be official: Canada will have a fully legalized, regulated recreational marijuana market.
You see, I fully expect Canada's weed market to grow 20 times larger over the next decade. It's hard to overstate the potential for investment riches.
I've got good company: Statista estimates the Canadian cannabis retail sector – a relatively small chunk of the broader market – could top $2.8 billion by 2020.
In the "big picture," Deloitte expects the growers, value-added product markets, laboratories, security, tourism, exports, and all the other related segments could surge to $22.6 billion before much longer.
That's why we're watching this event so closely. It would've been unthinkable to miss out.
About the Author
Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.