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 a 35-year Silicon Valley veteran and one of the top technology financial analysts working today. He regularly delivers winning trade recommendations to the Members of his monthly tech investing newsletter, Nova-X Report, and small-cap tech service, Radical Technology Profits. In the past two years alone, his subscribers have seen over 100 double- and triple-digit gains from his recommendations.
As a consultant, senior adviser, and board member for Silicon Valley venture capital firms, Michael enjoys privileged access to pioneering CEOs and high-profile industry insiders. In fact, he was one of five people involved in early meetings for the $160 billion "cloud" computing phenomenon. And 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.
In addition to being a regular guest and panelist on CNBC and Fox Business Network, Michael 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 "bailout" became a household word.
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